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☆ Three reasons a strong Black Friday weekend may not mean a blowout holiday season for retailers
▼ + stars: | 2023-12-03 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

And Ulta Beauty and Foot Locker 's shares rose this week, after the companies reported better-than-expected earnings and a strong start to holiday spending on sneakers, makeup and more. Adobe predicts that full holiday season online spending from Nov. 1 to Dec. 31 will hit $221.8 billion, which would be a nearly 5% year-over-year jump. If the estimate ends up being correct, that means shoppers still have a little more than half of their online holiday spending to go. The NRF said this week that its survey found about half of consumers' online and in-store holiday shopping remains. "People are just about tapped out, but [with] the holiday season, people are willing to even further extend themselves," he said.

Persons: Emily Elconin, That's, Dave Kimbell, Ulta, Matt Shay, Anastasiia, It's, Vivek Pandya, Pandya, Kena Betancur, Scott Wren, Wells, Shannon Stapleton Organizations: Getty, Adobe Analytics, National Retail Federation, Consumers, Walmart, Target, Adobe Digital, Adobe, Macy's, U.S . Federal, Shoppers, Reuters Locations: Oaks, Novi , Michigan, New York , New York, Wells Fargo, Macy's, Roosevelt, Garden City , New York, U.S

Finally Souza, an innkeeper and community leader in Bela Vista do Jaraqui, said he rallied two dozen neighbors to drill a 60-meter well in the heart of the world's largest freshwater basin. With rivers forming the backbone of transportation across the Amazon region, the drought has disrupted access to food and medicine in dozens of cities. The Amazon, the world's largest rainforest, is regarded by scientists as a bulwark against climate change because its dense vegetation absorbs carbon and emits oxygen. The five researchers predicting a 2026 recovery said the effects of the drought could endure even longer if El Nino is prolonged. That would release huge amounts of carbon dioxide, contributing to climate change and wiping out a wealth of plant and animal species found only in the Amazon.

Persons: Bruno Kelly, Raimundo Leite de Souza, Souza, Luiz Inacio Lula da Silva, Michael Coe, we're, El Nino, Coe, El, Philip Fearnside, Henrique Barbosa, Eduardo Taveira, Taveira, Paulo Brando, Brando, Barbosa, Brad Haynes, Jake Spring, Ana Mano, Andre Romani, Suzanne Goldenberg Organizations: REUTERS, Rights, Rio, cobras, United, Reuters, Research Center, National Institute of, Research, University of Maryland, Honda, LG, Positivo, GIANTS, Yale University, Sao Paulo, Thomson Locations: Tefe, Amazonas, Brazil, Rights MANAUS, caimans, Bela Vista, Guyana, Suriname, French Guiana, Venezuela, Colombia, United Nations, U.S, South America, South, Pacific, North America, El Nino, University, Baltimore, Western Europe, Brazil's Amazonas, Manaus, Itacoatiara, Madeira Rivers, Sao Paulo, Sao

☆ A man was arrested for plotting a 'mass casualty' attack at Elon Musk's Cybertruck launch event, reports say
▼ + stars: | 2023-12-02 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

A 28-year-old man was arrested for planning an attack at Tesla's delivery event in Austin. After his arrest, he said: "I was going to shoot up Elon Musk and the plant," local news reported. AdvertisementA Florida man was arrested this week after he was alleged to have planned a "mass casualty event" at Tesla's Cybertruck promotional event on Thursday. Advertisement"I was going to shoot up Elon Musk and the plant," he reportedly said. When taken into custody Overeem said he believed Elon Musk and Shivon Zilis, a Neuralink director and the mother of twins with Musk, were watching him, CBS Austin added.

Persons: Tesla, Elon Musk, —, Paul Ryan Overeem, Overeem, Polly Thompson, haven't, CBS Austin, Musk Organizations: Service, Tesla, Austin ., NBC, CBS, Travis, Police Department Locations: Austin, Florida, Texas, Travis

Vietnam has already rail connections to China, but the system is old with limited capacity on the Vietnam side. The upgraded railway would pass through the region where Vietnam has its largest deposits of rare earths, of which China is by far the world's biggest refiner. Chinese and Vietnamese rare earths industry experts discussed last week stronger cooperation on processing the minerals, according to Vietnamese state media. It is unclear how much China would contribute to the upgraded railway track in Vietnam and whether Hanoi would accept sizeable financing from Beijing on this. A strengthened railway link could also boost Vietnam's export to China, mostly of agriculture products, boost Chinese tourism to northern Vietnam and further integrate the two countries' manufacturing industries, which experts already consider as symbiotic, with factories in Vietnam largely assembling components produced in China.

Persons: Xi Jinping, Vietnam's, Wang Yi, Tran, Pham Minh Chinh, Wang Wentao, Francesco Guarascio, Khanh Vu, Phuong Nguyen, Stephen Coates Organizations: Vietnam's, China's Commerce, Initiative, Reuters, Thomson Locations: Hanoi, China, Haiphong China, Vietnam, HANOI, United States, Tran Luu Quang, Kunming, Haiphong, Beijing, China . China, Hong Kong, Washington, South

☆ 5 red flags to look for when choosing a new home, according to a professional cleaner
▼ + stars: | 2023-12-01 | by ( Ryan S. Gladwin | ) www.businessinsider.com time to read: +6 min

She shared five red flags for people to look out for when moving into a new property. DaSilva said common red flags were water damage and mold, while missing caulk is often overlooked. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Failing to see red flags when you're viewing a property to buy or rent might set you up for financial, mental, and physical stress. Water damage and moldThe first and most common red flags are water damage and mold.

Persons: Lina DaSilva, DaSilva, —, cleanings, I've, Caulk, I'm, it's, It's Organizations: Service Locations: Toronto

☆ PDD earnings: Alibaba’s Jack Ma urges reform as rival rattles e-commerce giant
▼ + stars: | 2023-11-30 | by ( Michelle Toh | Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Alibaba founder Jack Ma has called for “change” as the stellar performance of a competitor causes a stir at his e-commerce company. On Wednesday, the billionaire responded to a recent rally in the stock of PDD (PDD), the group behind Chinese online shopping giant Pinduoduo and US-based retail upstart Temu. That has pushed up the company’s stock in New York dramatically, taking it 18% higher Tuesday and another 2% higher Wednesday. As a result, PDD’s market cap has soared to $188.3 billion, putting it just below Alibaba’s (BABA) $189.9 billion. I believe that everyone in Alibaba today is watching and listening,” he wrote in a comment, according to the source.

Persons: Hong Kong CNN —, Jack Ma, PDD, Ma, ”, ” “, Chen Lei Organizations: Hong Kong CNN, Temu Locations: China, Hong Kong, New York, Hangzhou, Alibaba, United States, Australia

Zubale/Handout via REUTERS Acquire Licensing RightsMEXICO CITY, Nov 30 (Reuters) - E-commerce startup Zubale is setting its sights on expanding throughout Brazil and Mexico with a fresh $25 million capital injection, the company said on Thursday. In Mexico, the startup already operates in 90 cities and is eyeing another 40 over the next two years, said Monroy. He added that Zubale plans to first boost the technology behind its gig service in Mexico, Latin America's second-largest economy, to increase both workers' productivity and earnings. Zubale is also going to "speed up market penetration" of its software in Mexico, where the products are "still really green," Monroy said. The $25 million investment announced on Thursday comes from backers such as QED Investors and NFX, and follows a $40 million Series A funding round last year.

Persons: Sebastian Monroy, Zubale, Thiego Goularte, Goularte, Monroy, Kylie Madry, Rashmi Organizations: Reuters, REUTERS Acquire, MEXICO CITY, Carrefour, Sao Paulo, Thomson Locations: Sao Paulo, Brazil, Handout, MEXICO, Mexico, Sao, Rio de Janeiro

☆ Price hikes and spending cooled last month, Fed’s preferred inflation gauge shows
▼ + stars: | 2023-11-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

The core PCE price index is at its lowest annual rate since April 2021, marking another step toward the Fed’s target of 2% inflation. When including gas and food prices, the overall PCE index was unchanged last month. Consumer expenditures increased 0.2% last month, a marked pullback from the 0.7% jump seen in September. When taking out inflation, however, the 0.2% real spending in October was down only slightly from September’s 0.3% gain. Holiday uncertaintyThe spending patterns last month align with the ongoing trend of people spending their money more on experiences.

Persons: Bharat Ramamurti, Kayla Bruun, Jill Renslow, Bruun, ” Ramamurti, ” Organizations: Minneapolis CNN, The Commerce Department, Federal Reserve, PCE, National Economic Council, CNN, Consumers, Morning, of, National Retail Federation Locations: Minneapolis, of America, Bloomington , Minnesota

Her voice sounds utterly guileless as she sings about lust, betrayal, revenge and healing. 3. boygenius, ‘The Record’Synergy reigns in boygenius, the alliance of the singer-songwriters Julien Baker, Phoebe Bridgers and Lucy Dacus. Paul Simon, ‘Seven Psalms’“Seven Psalms” comes across as a farewell album from Paul Simon, 82. Simon sings about mortality as a “great migration” and extols the presence and purpose of “The Lord,” as the biblical psalms do. The songs on her second album, “Guts,” combine pop’s concision and melody with rock’s potential to erupt.

Persons: Karol G, Julien Baker, Phoebe Bridgers, Lucy Dacus, mentorships, Paul Simon, ‘, It’s, Simon, ”, Olivia Rodrigo, Oliva Rodrigo, Feist, ’ Feist Locations: Colombian, Dominican, Afrobeats, boygenius

☆ Nvidia and more: These global stocks will soar on a $324 billion autonomous vehicle boom, analysts say
▼ + stars: | 2023-11-30 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Autonomous vehicles — or vehicles embedded with chips and sensors to enable self-driving — have been picking up steam, and several stocks make good plays on the theme, according to Fubon Research. Providers of sensors and cameras are among the autonomous vehicle related companies on Fubon Research's watch. 3008-TW YTD mountain Year-to-date share price of Largan Precision On Largan, Fubon Research's analysts pointed out that the company stands to gain from the addition of cameras in autonomous vehicles. "Cameras have become an important part of ADAS and autonomous driving. NVDA YTD mountain Year-to-date share price of Nvidia Meanwhile, Nvidia made Fubon Research's watch list thanks to its development of autonomous vehicle technologies under its NVIDIA DRIVE platform.

Persons: Fubon, Tong, — CNBC's Michael Bloom Organizations: Research, Jefferies, Autonomous, Nvidia, NVIDIA, Primax Electronics, Qualcomm Inc Locations: Taiwan, ADAS

☆ Graphene: The world’s strongest material could be used to make clean drinking water
▼ + stars: | 2023-11-29 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +6 min

CNN —Often referred to as a “miracle material,” graphene is one million times thinner than a single human hair and stronger than steel. The two-dimensional carbon material, made from single layers of graphite, a material mined from the ground, is extremely lightweight, conductive, and flexible, and has the potential to deliver transformational technologies across industries, from electronics to transportation. Now, researchers at Khalifa University in the United Arab Emirates (UAE) are exploring another use for graphene: producing drinking water. That’s where graphene comes in: Arafat is working on a graphene-enhanced membrane that could make the process more efficient and cheaper. “Even in small quantities, these graphene materials significantly improve the performance of the membranes in terms of their water production,” he adds.

Persons: ”, Hassan Arafat, Arafat, “, Arafat isn’t, Molymem, Christophe Viseux, RIC2D, James Baker, Baker, You’re, ” Baker Organizations: CNN, Khalifa University, United Arab Emirates, United Arab, Research, Innovation, UK’s University of Manchester, University of Manchester, Bloomberg, Getty, Graphene@Manchester, European Union Locations: UAE, United Arab Emirates, Abu Dhabi, Abu, Turkish, Emirates

☆ EVs struggle with reliability due to charging, battery issues - Consumer Reports survey
▼ + stars: | 2023-11-29 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

On average, new EVs had 79% more problems than gasoline-powered vehicles, Consumer Reports' 2023 Annual Auto Reliability survey showed. "For the legacy automakers, (EVs) are really new technologies, so they don't have a lot of experience with batteries, charging and motors." Jake Fisher, senior director of Auto Testing at Consumer Reports, said in an interview with Reuters. Consumer Reports survey covers 20 problem areas including engine, electric motors, transmission and in-car electronics. "Even with monumental shifts in the auto marketplace, what matters most to consumers remains the same: finding safe, reliable cars," said Marta Tellado, President and CEO of Consumer Reports.

Persons: Albert Gea, Jake Fisher, Fisher, Elon, Stellantis, Marta Tellado, Nathan Gomes, Shweta Agarwal Organizations: REUTERS, Electric, Consumer, Auto Testing, Reuters, U.S, General Motors, Buick, Benz, Chrysler, Lexus, Toyota, Thomson Locations: Barcelona, Spain, U.S, North America, Bengaluru

To be sure, China is still Walmart's biggest country for importing goods. "We want the best prices," Andrea Albright, Walmart's executive vice president of sourcing said in an interview. Walmart has been accelerating growth in India since 2018, when it bought a 77% stake in Indian e-commerce firm Flipkart. Its rapidly growing workforce and technological advancement were a draw for Walmart, Albright said. The rising cost of shipping goods from China has also contributed to the switch to India, supply chain experts say.

Persons: Eduardo Munoz, Andrea Albright, we're, Albright, Doug McMillon, Narendra Modi, Modi, McMillon, Rajesh Kharabanda, Chris Rogers, Shekhar Gupta, Devgiri, Richa Naidu, Siddharth Cavale, Casey Hall, Manoj Kumar, Matthew Scuffham, Sharon Singleton Organizations: Walmart, REUTERS, Companies Walmart, Reuters, Flipkart, Walmart Global Tech India, Indian, Amazon, Freewill, P, Thomson Locations: Teterboro , New Jersey, U.S, India, China, United States, Washington, Beijing, Thailand, Vietnam, Bangalore, Pakistan, Bangladesh, Mundra Port, Gujarat

Main auto partner Chongqing Changan Automobile (000625.SZ) and relevant parties will own up to 40% of the new firm, a Changan Auto statement showed on Sunday. Neither Changan Auto nor Huawei disclosed financial details. Changan Auto referred Reuters to its Sunday statement and declined to comment further. Huawei has partnerships with other auto companies, including Seres Group (601127.SS) and Jianghuai Automobile (600418.SS), as well as with Changan Auto involving EV brands Avatr and Deepal. The proposed deal will also smooth the way for the business' listing, as Huawei had planned, said two of the people.

Persons: Ren Zhengfei, Ren, Richard Yu, Julie Zhu, Zhuzhu Cui, David Kirton, Brenda Goh, Christopher Cushing Organizations: Huawei Technologies, Changan Auto, Bosch, Chongqing Changan Automobile, Huawei, Auto, China Ordnance Equipment Group, China South Industries, FAW Group, Dongfeng Motor, HK, Reuters, Seres, Jianghuai, Changan, EV, Thomson Locations: HONG KONG, SHANGHAI, Chongqing, China, Changan, Shanghai

☆ Russia will send fighter jets and attack helicopters to Iran, state media says. The move could strengthen ties that already have the US worried.
▼ + stars: | 2023-11-29 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Russia is slated to send Iran advanced fighter jet and attack helicopters, reports say. AdvertisementRussia has agreed to send advanced fighter jets and attack helicopters to Iran in a deal that would provide a significant boost to the country's air force, Iranian media reports. A Mil Mi-28 attack helicopter performs during Army Games 2021 at Alabino Military Training Ground in Moscow on August 25, 2021. AdvertisementPrior to the invasion of Ukraine, Moscow was the world's second-largest arms exporter behind the US, according to a 2021 Congressional Research Service report . But Russia's war in Ukraine has disrupted its foreign military sales, an important component of the country's defense apparatus.

Persons: —, Yakovlev, Tasnim, that's, Stringer, John Kirby, Kirby, we've, Evgeniy, IRNA Organizations: Service, White, Tasnim News Agency, Republic News Agency, Army, Alabino, Anadolu Agency, Getty, National Security, European Union, AP, Kremlin, US Locations: Russia, Iran, Moscow, Tehran, Ukraine, East, Kyiv, Russian, European, Ukrainian, Washington, Israel, Gaza, Hezbollah, Lebanon, Yemen, Iraq, Syria

☆ Nvidia CEO Jensen Huang says AI will be 'fairly competitive' with humans in 5 years
▼ + stars: | 2023-11-29 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Nvidia CEO Jensen Huang said Wednesday that artificial intelligence is gaining on humans. In the interview Wednesday, Huang recalled delivering "the world's first AI supercomputer" to OpenAI, after Elon Musk, who co-founded the AI project before departing it in 2018, heard Huang speak about the device at a conference. "Elon saw it, and he goes, 'I want one of those' — he told me about OpenAI," Huang said. Huang was asked onstage to rank the success of various companies in the AI market. WATCH: Nvidia CEO says U.S. chipmakers at least a decade away from China supply chain independence

Persons: Jensen Huang, Huang, Elon Musk, Elon, Sam Altman, they're, we've, I'm Organizations: Nvidia, The New York Times, AIs, ChatGPT Locations: AGI, China

☆ A sale isn't worth it anymore unless you're getting 40% off
▼ + stars: | 2023-11-29 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Many retailers are extending holiday shopping discounts to record levels and for longer periods. To get the best discounts, you might have to head to your nearest mall. To get the best holiday deals, you might have to go to the mall. That worked in the last few years but didn't this year because financially stressed consumers became even more cost-conscious and looked for the best deals, he added. "Retailers moved a lot of those sales earlier than usual, and then it became one big event culminating on Cyber Monday."

Persons: LSEG, —, Jharonne Martis, Martis, Centric Market Intelligence —, Howard Schnapp, Kraig Foreman, CNBC's, Foreman Organizations: Service, Adobe, London Stock Exchange Group, London Stock Exchange, Centric Market Intelligence, Getty, CNBC, Wall Street, Retailers

Parliament approved the higher tax rate as part of a global tax reform, and said the government would work on specific incentives in 2024. "The National Assembly is not issuing a separate resolution on investment incentives at this time," said Le Quang Manh, head of the assembly's financial commission. Vietnam's corporate income tax is already set at 20%, but it has offered for years much lower effective rates to large foreign investors. The Korean Chamber of Commerce in Vietnam said members were concerned about the new tax rate, but "none have expressed their intention to alter their investment in Vietnam". However, Thang Vu, a tax expert at consultancy Dezan Shira, said Vietnam could see a drop in foreign investment if it did not offer "adequate alternative economic benefits" to those affected by the new tax.

Persons: Le Quang, Thang, Dezan Shira, Khanh Vu, Francesco Guarascio, Miral Organizations: Samsung, Assembly, Korean Chamber of Commerce, Thomson Locations: Vietnam, Hanoi, HANOI, Korean

☆ US Thanksgiving weekend sales hit record $38 bln on big discounts - report
▼ + stars: | 2023-11-28 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Shoppers crowd a Walmart store ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. Online consumer spending jumped 7.8% during Cyber Week, or the five days from Thanksgiving through Cyber Monday, according to data from Adobe Analytics, outstripping initial expectations for a 5.4% rise. But blockbuster deals rolled out from Thanksgiving Day through Cyber Monday helped spread the holiday cheer for bargain-hunters. Sales on Cyber Monday jumped a better-than-expected 9.6% to a record $12.4 billion, as shoppers clicked "buy" on Hot Wheels toys, PlayStation 5, smart watches and kitchen appliances. Reuters GraphicsAdobe said discounts peaked at 31% for electronics and at 27% for toys on Cyber Monday, which is typically the biggest online shopping day in the U.S.

Persons: Kamil Krzaczynski, Vivek Pandya, trouncing, Klarna, Deborah Sophia, Juby Babu, Pooja Desai Organizations: Walmart, REUTERS, Adobe Analytics, Deloitte, Adobe Digital, Graphics Adobe, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ Micron sees first-quarter operating expenses above forecast, shares fall
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 28 (Reuters) - Micron Technology (MU.O) expects first-quarter operating expenses to be higher than its prior estimates, sending the memory chipmaker's shares down 3%, even as the company projected revenue to trend towards the upper-limit of its forecast. The company on Tuesday estimated adjusted operating expenses of about $990 million in the quarter ending Nov. 30, higher that its prior expectation of $900 million, plus or minus $15 million. The higher expenses are driven by the timing of R&D costs as well as asset sales, CEO Sanjay Mehrotra said at the UBS Global Technology Conference on Tuesday. Micron said it now expects revenue to approach $4.7 billion, compared with its previous estimate of $4.4 billion, plus or minus $200 million. It previously forecast loss of $1.07 per share, plus or minus 7 cents.

Persons: Aly, Sanjay Mehrotra, Matthew Bryson, Chavi Mehta, Krishna Chandra Eluri Organizations: Micron, REUTERS, Micron Technology, UBS Global Technology Conference, Wedbush Securities, Samsung Electronics, Thomson Locations: Shanghai, China, Bengaluru

Nov 28 (Reuters) - Spending online on Cyber Monday is set to exceed $12 billion, a record, as bargain hunters snap up deals on items including Barbie dolls, Lego sets, headphones and smart watches, according to preliminary estimates from Adobe Digital Insights. The estimate projects U.S. shoppers will spend $12 billion-$12.4 billion on Cyber Monday, the biggest U.S. online shopping day. At the top end, this would represent an 9.7% increase compared to the $11.3 billion spent on Cyber Monday last year. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. On Monday, Walmart stepped up discounts on some clothing to 60%, up from the 50% it offered on Black Friday.

Persons: Barbie, Nancy Tengler, Eduardo Munoz, Matthew Katz, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis, Lincoln Organizations: Adobe Digital, Retailers, Adobe Analytics, Investments, Shoppers, Workers, REUTERS, SSA & Company, Walmart, Sizemore Capital Management, Target, Graphics, Insider Intelligence, Thomson Locations: Scottsdale , Arizona, United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru

Consumers grew somewhat more optimistic about the future of the economy in November as expectations about inflation improved, but their sense of the current state of affairs worsened a bit. Still, two-thirds of consumers surveyed still expect a recession to be “somewhat” or “very likely” within the next 12 months. However, that is well above current inflation of 3.2% and forecasts from the Federal Reserve and mainstream economists. In the peak hour from 10 p.m. to 11 p.m. EST, consumers spent $15.7 million a minute, according to online analytics firm Adobe. One thing that might make some consumers happy is that home prices continued to increase in September.

Persons: ”, Dana Peterson, ” Peterson, Jeffrey Roach, Craig J, Lazzara, Lisa Sturtevant Organizations: Conference, Federal Reserve, LPL, “, Adobe, MLS Locations: Detroit, San Diego

☆ Don’t read too much into those Black Friday and Cyber Monday spending totals
▼ + stars: | 2023-11-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

“It shows the psychological mind frame of consumers,” said Mickey Chadha, vice president of corporate finance at Moody’s Investors Services, referring to holiday spending data. This year, dollar sales growth for the holidays in the United States is forecast to slow to 3.3% from 6% last year. It means the spending growth it reported was “driven by net-new demand, not simply higher prices,” Adobe said. The experts CNN spoke to were all in agreement: Holiday spending data — no matter how good or bad — doesn’t represent the state of the entire US economy. A report she coauthored with Chadha predicts holiday sales will grow “a fairly modest 1% to 3%” this year.

Persons: ”, Mickey Chadha, Aditya Bhave, David Paul Morris, That’s, Tamara Charm, Charm, ” Adobe, Chedly Louis, Chadha, Michael Zdinak, he’s, Bhave, that’s Organizations: New, New York CNN, Moody’s Investors Services, Adobe Analytics, Adobe, P Global Market Intelligence, Bank of America, Bloomberg, Getty, Consumer, Consumers, McKinsey, CNN, Moody’s Investors Locations: New York, United States, That’s

☆ Japan business lobby to discuss negative impact of weak yen -Yomiuri
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO:Coins and banknotes of Japanese yen are seen in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration/ File Photo Acquire Licensing RightsTOKYO, Nov 28 (Reuters) - Japan's top business lobby Keidanren will discuss at next month's executive meeting the potential negative impact of the yen's weakness on the economy, the Yomiuri newspaper reported on Tuesday. Keidanren, which is comprised of major companies including big automakers and electronics firms, traditionally favoured a weak yen and have called on the government to stave off sharp yen rises that make Japan's exports less competitive overseas. Any discussion on the demerits of a weak yen by Keidanren would highlight a shift in how Japan's business sector views the currency's movement and its impact on the economy. The shift in Keidanren's stance could heighten calls by the business sector for the Bank of Japan to end ultra-low interest rates that have been blamed for accelerating the yen's decline, the newspaper said.

Persons: Florence Lo, Keidanren, Leika Kihara, Christopher Cushing Organizations: REUTERS, Rights, Yomiuri, Bank of Japan, Reuters, Thomson

☆ Here's the latest sign India will be a key growth market for Apple
▼ + stars: | 2023-11-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

AAPL YTD mountain Apple (AAPL) performance year-to-date Foxconn's China-based factories have been crucial for the production of iPhones and other Apple products likes MacBooks. Those issues, along with heightened U.S.-China tensions, prompted Apple — and suppliers like Foxconn — to expand into India. CEO Tim Cook has previously told CNBC that India presents a "huge opportunity" for Apple in terms of iPhone sales and manufacturing. And over the summer, Apple announced it had started production on the next-generation iPhone 15 in India. While China's economy remains under pressure post-pandemic, the Indian market offers significant growth opportunities for a company like Apple.

Persons: Apple, Apple —, Tim Cook, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Punit Paranjpe Organizations: Foxconn Technology, Apple, CNBC, Afp, Getty Locations: India, China, Mumbai, Punit

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