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☆ Spend better, not less: Duke behavioral economics expert on his top 4 money tips
▼ + stars: | 2023-07-11 | by ( Isabel Engel | In Isabel--Engel | ) www.cnbc.com time to read: +4 min

Dan Ariely, a professor of psychology and behavioral economics at Duke University, knows this firsthand. But recent grads would be wise to avoid any spending sprees on new or "trendy" things, Ariely says. Think about the future, not just the presentFor recent graduates, there can be a temptation to charge lots of purchases, Ariely says. Reflect on past spending — and past regretsFinancial planning generally involves looking ahead. But you'd be well served to look at past purchases, too, and reflect on the extent to which they brought you joy.

Persons: Dan Ariely, —, Ariely, I'm, you'd Organizations: Duke University, Duke Fuqua School of Business

Since 2015, Prime Day sales have risen to more than $7 billion and could top $8 billion this year. Now in its ninth year, Amazon's annual Prime Day has become a fact of American life — a quasi-holiday that retailers of all types pile into. Protestors in New York raising awareness of Amazon facilitating ICE surveillance efforts coinciding with Amazon Prime Day 2019. How Prime Day is goingLast year, Amazon drove more than $7 billion in sales through its Prime Day sales, according to Insider Intelligence. The number of Amazon Prime account holders has ballooned too, with nearly 175 million people using Amazon Prime in the US today — around two-thirds of the country's population — according to a report by Insider Intelligence.

Persons: Michael M, Jack Ma's Alibaba, Diego Piacentini, Jeff Bezos, Brad Stone, Bezos, Execs, Stone, Meagan Wulff Reibstein, Wulff, Kevin Hagen, Brian Olsavsky, Rafael Henrique, Scott Olson, Andrew Lipsman, Lipsman, — Organizations: Amazon Prime, Companies, Amazon, Intelligence, Insider Intelligence, Workers, Walmart, Getty, Target, Target Circle, Black, Prime Locations: China, Tokyo, London, Paris, Munich, Japan, Europe, New York

[1/2] Leslie Van Houten listens during her parole hearing in Corona, California, June 28, 2002. In May a California appeals court overruled Newsom and found Van Houten, 73, was entitled to parole from her life sentence. The governor could have appealed the decision to the California Supreme Court. Van Houten was 19 when the murders were committed, making her the youngest of Manson's devotees. Van Houten was convicted of fatally stabbing grocery owner Leno LaBianca and his wife, Rosemary, in their Los Angeles home on Aug. 10, 1969.

Persons: Leslie Van Houten, Van Houten, sprees, Read, Gavin Newsom, Charles Manson's, Newsom, Erin Mellon, Van Houten's, Nancy Tetreault, Jerry Brown, Manson, Sharon Tate, Leno LaBianca, Rosemary, Tate, Roman Polanski, Abigail Folger, hairstylist Jay Sebring, Daniel Trotta, Kim Coghill Organizations: California Supreme, NBC News, Thomson Locations: Corona , California, California, Los Angeles, Angeles, Europe, Carlsbad , California

☆ Retail crime has hit a bustling Kansas metropolis
▼ + stars: | 2023-07-02 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +12 min

Republican Kris Kobach, Kansas’ attorney general, said retail crime is a “spiraling problem” in his state, adding that Kansas and Missouri are among the top 10 states in the nation for volume of retail crime. “There is a link between drug trafficking and organized retail crime,” Kobach told lawmakers in June. “Organized retail crime is a problem that is getting worse, not better. Organized retail crime offers criminals a business model of pure profit, “with no overhead, rent, product cost. In early June, Kobach testified before a House Judiciary Committee hearing on “Organized Retail Crime and the Threat to Public Safety.”“When one thinks about the explosion of organized retail crime in the United States, the State of Kansas may not intuitively jump to mind,” he told lawmakers.

Persons: They’re, it’s, Coleman, “ I’ve, ”, Casey Slaughter, Kris Kobach, Kobach, ” Kobach, Joe Sullivan, Sullivan, ” Sullivan, Joe Sohm, Cabela’s, shoplifters, ” Cabela’s, Slaughter, “, Marc Bennett, There’s, Harold Casey, Casey, She’s, Poor, John Hanna, don’t, “ That’s Organizations: New, New York CNN, Wichita Police, Kansas, CNN, “, Wichita, Wichita Skyline, America, Sporting Goods, Academy Sports, National Retail Federation, Centers for Disease Control, of Kansas, Scott, Family Services, ”, Walgreens, Public Safety Locations: New York, San Francisco, Chicago, Wichita , Kansas, Kris Kobach , Kansas, Kansas, Missouri, In Kansas, Sedgwick, Wichita, Arkansas Rivers, , Kansas, ”, Kansas . Kansas, Sedgwick County, Ulta, United States, State, But Kansas, “ In Kansas

☆ Shopify's midlife crisis: How a surprise pivot away from logistics capped the e-commerce giant's whirlwind year
▼ + stars: | 2023-06-29 | by ( Madeline Stone | Emma Cosgrove | ) www.businessinsider.com time to read: +12 min

But Shopify's logistics acquisitions, which came with around 550 more staff altogether, started to look like dead weight after the shine of the initial announcements wore off. By the beginning of 2023, the attitude toward logistics inside Shopify had shifted to palpable frustration, four people who worked for Shopify's logistics division said. Lance McMillan/Toronto Star via Getty ImagesIndependent of logistics, Shopify saw massive cultural shifts in the past several years. One core tenet of Shopify's work culture is "default to open," meaning it values transparency and sharing information with employees. The letter referred to Shopify's logistics work of the past four years as a "side quest" that distracted the company from its "main quest."

Persons: Shopify, it's, Oppenheimer, Ken Wong, Lance McMillan, crafters, Tobias Lütke, Slack, —, Lütke, Shopify's, I've, Toby Shannan, Morgan Stanley, Jeff Hoffmeister, Bobby Morrison, Allan Leinwand, Kaz Nejatian, Nejatian, Madeline Stone, Emma Cosgrove Organizations: Employees, Amazon, Systems, Kiva Systems, Toronto Star, Getty, miscalculating, Facebook, ecosgrove Locations: Shopify, Ottawa , Ontario, —, Silicon

☆ Walgreens unveils Chicago store with only two aisles and most products kept out of sight
▼ + stars: | 2023-06-09 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Walgreens just opened a redesigned store in a downtown Chicago neighborhood where most of the merchandise is intentionally kept out of sight. It’s not designed to deter theft, Walgreens says. The new Walgreens store now has only two aisles for shoppers to peruse for their everyday needs, such as over-the-counter medication, bath and body care supplies, batteries, Band-aids, and grab-and-go snacks. Those hidden products – including color cosmetics, beer, wine and spirits, hair color products and gift cards – can only be accessed for purchase through a kiosk system, also set up in the store. Illinois governor J.B. Pritzker signed a bill that went into effect Jan. 1 that’s designed to crack down on retail crime by raising penalties on retail theft statewide.

Persons: Walgreens, Robb Karr, J.B, Pritzker, ”, Karr, “, John Hassard, Robson, Hassard, Lululemon, “ We’re Organizations: New, New York CNN, Walgreens, Roosevelt, What’s, CNN, Walmart, Target, Illinois Retail Merchants Association, Walgreens ., Robson Forensic, National Retail Federation Locations: New York, Chicago, America, Walgreens . Illinois, Atlanta, harm’s, San Francisco

REUTERS/Kim Hong-JiNEW YORK, June 6 (Reuters) - New York City on Tuesday sued Hyundai Motor Co (005380.KS) and Kia Corp (000270.KS), accusing the South Korean automakers of negligence and creating a public nuisance by selling vehicles that are too easy to steal. The most populous U.S. city joined several other major cities that have sued Hyundai and Kia over the thefts, including Baltimore, Cleveland, Milwaukee, San Diego and Seattle. In contrast, the city said thefts of BMW, Ford, Honda, Mercedes, Nissan and Toyota vehicles have fallen this year. Last month, Hyundai and Kia reached a $200 million settlement of a consumer class action over the thefts. The case is City of New York v Hyundai Motor America et al, U.S. District Court, Southern District of New York, No.

Persons: Kim Hong, Hyundais, Kias, Kia, Jonathan Stempel, Chris Reese, Jamie Freed Organizations: Hyundai Motors, REUTERS, Tuesday, Hyundai Motor, Kia Corp, South Korean, Hyundai, Kia, BMW, Ford, Honda, Nissan, Toyota, Court, Southern District of, Thomson Locations: Seoul, South Korea, New York City, U.S, Baltimore, Cleveland, Milwaukee, San Diego, Seattle, Manhattan, New York, of New York, Southern District, Southern District of New York

☆ Tech is paying big salaries for engineering and developer jobs specializing in AI. Here's how much you can make.
▼ + stars: | 2023-06-07 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +1 min

Tech companies are cutting costs in certain areas to focus spending on AI. See how much tech companies pay employees specializing in AI. However, one area where tech companies are investing is artificial intelligence. Google and other Big Tech giants are competing for talent against new entrants, most notably OpenAI, which created the AI chatbot ChatGPT and is one of today's hottest rising tech companies. Because of this, talented engineers with AI skills can command big salaries, despite tech workers having less power now than in recent history.

Persons: they're Organizations: . Engineers, Tech, Google, Big Tech, Engineers

☆ Lululemon stands by decision to fire employees who intervened in robbery
▼ + stars: | 2023-06-06 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

“It’s only merchandise.”McDonald said the employees “knowingly broke the policy” and engaged with the thieves, including following them out of the store. As economic fears grow amid inflation and rising borrowing costs, incidents of retail crime are mounting. Target (TGT) last month said it was bracing to lose half a billion dollars this year because of rising theft. “This is organized retail crime. “We’ve had instances, and we’ve seen in other retailers instances where employees step in and are hurt or worse, killed,” he told CNBC.

Persons: New York CNN — Lululemon’s, LULU, Calvin McDonald, “, ”, ” McDonald, Lululemon, Read Hayes, criminologist, they’ve, ” Lululemon, Nordstrom, Hayes, McDonald, “ We’ve, we’ve Organizations: New, New York CNN, “, CNBC, University of Florida, Prevention Research Council, Walmart, Target, “ Retailers, CNN, Employees, Dollar, Foods, Walgreens, National Retail Federation Locations: New York, Peachtree Corners , Georgia, Peachtree, Georgia, harm’s, San Francisco, Bethesda , Maryland

☆ Elizabeth Holmes just reported to prison. It'll be a drastic change of lifestyle for the convicted Theranos founder.
▼ + stars: | 2023-05-31 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Theranos founder Elizabeth Holmes has reported to prison to begin her 11-year sentence. After several delays, she arrived at a federal prison camp in Bryan, Texas on May 30. Once worth billions on paper, Holmes can expect a drastic change in lifestyle in custody. She reported to a federal prison camp for women in Bryan, Texas, to commence her sentence after losing her most recent appeal. Holmes wouldn't be able to walk freely about the prison camp, and her timetable would be strictly controlled.

Persons: Elizabeth Holmes, Holmes, fraudster Elizabeth Holmes, adieu, John Carreyrou, Bryan, Billy Evans, Philip Pacheco, Theranos, Holmes wouldn't, Bryan she'd Organizations: Securities and Exchange Commission, Wall Street Journal, Getty, CNBC, The New York Times, Times Locations: Bryan , Texas, Silicon Valley, Woodside, San Diego

☆ Elizabeth Holmes reports to prison in a day. It'll be a drastic change from her life of luxury as a onetime billionaire.
▼ + stars: | 2023-05-29 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Theranos' founder, Elizabeth Holmes, is finally set to report to prison Tuesday. After several delays, she's expected to report to a federal prison in Texas by 2 p.m.Once worth $4.5 billion, Holmes can expect a drastic change in lifestyle. She's expected to begin her sentence at a federal prison camp for women in Bryan, Texas, after losing her most recent appeal. Before Theranos collapsed, Holmes would usually dine at expensive restaurants and go on shopping sprees, according to emails cited by prosecutors during her trial. Holmes wouldn't be able to walk freely about the prison camp, and her timetable would be strictly controlled.

☆ Why retail theft is soaring: inflation, the economy – and opportunity
▼ + stars: | 2023-05-23 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

But as economic fears grow amid inflation and rising borrowing costs, shoplifting often comes with the territory, industry watchers say. Need and opportunity become forceful catalysts for driving up incidents of retail crime, experts said. He described two types of store theft plaguing retailers currently. “This is organized retail crime. “What’s happening in the overall economy matters when you analyze retail crime overall, but also what is happening more locally, in towns and neighborhoods,” said Hayes.

Persons: Nordstrom, can’t, ”, Read Hayes, criminologist, Hayes, Burt Flickinger, “, Mark Cohen, Cohen, Brian Cornell, Cornell, ” Cornell, that’s, Doug McMillon Organizations: New, New York CNN —, Foods, University of Florida, Prevention Research Council, Walmart, Target, Strategic Resource, Gallup, Columbia Business School, National Retail Federation, CNN, ” Walmart, CNBC Locations: New York, San Francisco, Target

☆ Layoffs aren't over yet for tech giants as managers prepare to tighten on the 'laptop generation,' says tech investor Gene Munster
▼ + stars: | 2023-05-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Tech layoffs are far from over, according to tech investor Gene Munster. He also sees them getting tighter on the "laptop generation" who refuse to return to the office. More layoffs could be on their way at big tech firms as bosses prepare to tighten on the "laptop generation," according to Gene Munster. Munster's comments come as tech companies shift their tone away from growth to focus on efficiency. Munster thinks that "there has been this laptop generation" that "some of these tech companies are going to tighten on."

☆ Why Home Depot's weak outlook could be a warning sign for Target earnings
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Robyn Beck | AFP | Getty ImagesHome Depot and Target may sell very different kinds of merchandise. But the home improvement retailer's slashed forecast could be seen as a warning sign for the cheap chic retailer. On the other hand, Target, Walmart and other retailers that report in the coming weeks draw from a more representative pool of Americans. Discretionary spending fell year over year in the U.S., according to data from Circana, a market researcher formerly known as The NPD Group and IRI. Plus, Home Depot has some sector-specific advantages — even as mortgage rates rise — that could insulate it from some of the effects of lower discretionary spending.

☆ Novavax says it is axing 25% of its workforce to cut costs
▼ + stars: | 2023-05-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —Novavax is laying off 25% of its workforce to slash expenses, the biotech company said Tuesday. Still, the Maryland-based company said it’s focused on updating its Covid vaccine for the fall vaccine season, citing a modified US government agreement for up to 1.5 million additional doses of its Covid vaccine for delivery this year. Novavax expects its broader cost reduction plan, which also includes measures to consolidate facilities and infrastructure, to cut costs by 40% to 50% compared to the previous fiscal year. The US public health emergency is set to end on May 11, meaning Americans could have to start paying out of pocket for Covid testing and treatment. Novavax is the latest company to reduce its headcount to cut costs as companies brace for a possible recession and scale back their workforce after pandemic-era hiring sprees.

☆ Texas tragedy: One weekend spotlights two distinctly American political fissures
▼ + stars: | 2023-05-08 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

CNN —The national season of violence deepened with a weekend of tragedy in Texas that hit two of the rawest political divides, guns and immigration. It was the latest in a string of mass shootings in Texas and across the country that have killed many innocent people but have brought no action to end the cycle of loss. Then, on Sunday, a driver slammed into a group of migrants waiting at a bus stop outside a shelter in the Texas border town of Brownsville. But as in the case of mass shootings, there is little chance that the nation’s polarized politics will ease in order to offer the space for meaningful resolution. The latest mass shooting in Texas came after a spree of such killings in schools, supermarkets, at community parades, a bank and places of worship nationwide.

☆ Ex-Salesforce employee says she was 'washing baby bottles' on maternity leave when she learned she was laid off
▼ + stars: | 2023-04-14 | by ( Grace Mayer | ) www.businessinsider.com time to read: +6 min

A former Salesforce employee wrote on LinkedIn about discovering she was laid off during maternity leave. McKenzie Gregory said she was surprised find out maternity leave didn't protect her from layoffs. She said she thought being on maternity leave meant she was "protected" from losing her job. "I was shocked, I thought I was protected being on maternity leave ... and obviously I was wrong. A screenshot of McKenzie Gregory's LinkedIn post about her experience being laid off from Salesforce while on maternity leave.

Solari wasn't the only American to veer wildly between frugality and all-out spending sprees during the pandemic. In particular, younger people — Gen Z and millennials — have seen the early parts of their careers and critical years of their financial lives defined by the shifting sands of the pandemic economy. The strange pandemic-savings paradoxThe pandemic recession did not actually mean people had no money. The Fed found that the top quartile of earners added nearly $1.5 trillion to their savings through spending reductions, even as the pandemic consumed millennials and Gen Z's savings. If the mantra of the pandemic recession was giving everyday Americans money, the reaction is now to yank that back.

☆ Signs of pain as easy cash era ends are growing
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

LONDON, March 30 (Reuters) - The easy-cash era is over and markets are feeling the pinch from the sharpest jump in interest rate in decades. Since late 2021, big developed economies including the United States, euro area and Australia have raised rates by almost 3,300 basis points collectively. Japanese, European and U.S. banks stocks, while off recent lows, are still well below levels seen just before SVB's collapse. Reuters Graphics2/ DARLINGS NO MOREAs the SVB collapse showed, stress in the tech sector can quickly ripple out across the economy. Reuters Graphics4/ CRYPTO WINTERHaving benefited from an influx of cash during the easy-money era, cryptocurrencies have felt pain as rates rose last year, then gained on recent signs that tightening could end soon.

☆ Amazon to cut 9,000 jobs in second round of layoffs
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

[1/3] The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. Whereas prior cuts had focused on the company's e-commerce and devices business as well as human-resources staff, now the company would eliminate roles from Amazon Web Services, its advertising and Twitch streaming units. Amazon follows Facebook-parent Meta in becoming the second bellwether to announce a second round of cuts. Amazon has scaled back or shut down entire services like its virtual primary care offering for employers. Facebook-parent Meta Platforms said it would cut 10,000 jobs this year, following the first mass layoff in the fall, which eliminated more than 11,000 jobs.

LONDON, March 15 (Reuters) - Finance minister Jeremy Hunt presented less gloomy forecasts for Britain's economy at his Spring Budget on Wednesday. Reuters Graphics Reuters GraphicsROSIER OUTLOOKA rout in global banking stocks on Wednesday overshadowed many UK-specific moves. Investments announced by Hunt such as a corporate spending tax break, a boost for defence and extra childcare support were not viewed as particularly inflationary. Unlike in the last budget, noise around windfall taxes on oil and gas companies was muted in the run-up to the budget since energy prices have fallen dramatically since then. "In general, the budget is not the big story for gilts right now, global drivers are in the driving seat," said James Smith, economist at ING.

☆ Billionaire tech CEO says Meta and Google over-hired so much they didn't have enough work for employees: 'They really were doing nothing'
▼ + stars: | 2023-03-13 | by ( Grace Kay | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

C3.ai's CEO said Google and Meta over-hired employees and didn't have enough work for them to do. Thomas Siebel joked that if you want to work remote "in your pajamas," you should work at Facebook. "If you want to work from home, like four days of work in your pajamas, go to work for Facebook." Siebel is far from the first executive to express concern that tech workers aren't doing enough work. Last year, Microsoft CEO Satya Nadella warned that remote work has spurred "productivity paranoia" among managers.

☆ SVB collapse a sign of pain coming from end of easy-cash era
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +6 min

LONDON, March 10 (Reuters) - The easy-cash era is over and its impact is only just starting to felt by world markets yet to see the end of the sharpest interest rate hiking cycle in decades. European banks slid on Friday after JPMorgan (JPM.N) and BofA (BAC.N) shares fell over 5% on Thursday. BofA noted European banks' bond holdings have not grown since 2015. And with defaults rising, the focus is on the less visible private debt markets, which have ballooned to $1.4 trillion from $250 billion in 2010. Reuters Graphics5/FOR SALEReal estate markets started cracking last year and house prices will fall further this year.

☆ How Many People Does Elon Musk Need to Run Twitter? Silicon Valley Wants to Know
▼ + stars: | 2023-03-01 | by ( Alexa Corse | ) www.wsj.com time to read: 1 min

Elon Musk is trying to run Twitter Inc. with an ever-shrinking fraction of the staff the company had when he took over. Silicon Valley is watching to see if he will succeed. Across the tech industry and many businesses broadly, companies are trying to do more with less—using layoffs to unwind recent hiring sprees and cutting back on some long-shot projects.

☆ Ark Invest's Cathie Wood says markets are wrong to fear inflation and the bursting of the tech bubble
▼ + stars: | 2023-02-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Investors are wrong to fear high inflation and rising rates, according to Ark Invest's Cathie Wood. Though investors are skeptical of the boom in tech stocks, Woods said it wasn't a repeat of the dot-com era. But it's wrong to fear inflation and higher rates, Woods said, pointing to the steady decline in inflation from the highs of 2022, when price jumped at the fastest pace in 41 years. It was the same thing, but those who bet on lower inflation and interest rates long term were the winners." While investors have fled high growth tech names amid the Fed's rate hike cycle, the moment is not reminiscent of the dot-com bubble, Wood argued.

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