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☆ Walmart rolled out self-checkout to streamline operations and reduce labor needs — but employees and customers say it's causing a surge in theft
▼ + stars: | 2022-12-13 | by ( Ben Tobin | ) www.businessinsider.com time to read: +5 min

Walmart CEO Doug McMillon said stores could close if the rising tide of theft wasn't stemmed. Customers and employees blame self-checkout, which Walmart has increasingly relied on, for theft. Since McMillon made those comments, more than 100 Walmart customers and former and current employees have reached out to an Insider reporter to say the retailer must rely less on self-checkout. "They need to hire cashiers again and do away with so many self-checkout," Mindy Stanley, a Walmart customer from Ashland, Kentucky, said. Polly Kearns, a Walmart shopper from Gulfport, Mississippi, said the best way to protect against theft and make customers happy was to eliminate self-checkouts.

☆ US lawmakers want answers on FTX's collapse. Sam Bankman-Fried may not have them.
▼ + stars: | 2022-12-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

But first, we are going to hear more from Sam Bankman-Fried this week, even if you think we've already heard quite enough from him. Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee on December 8, 2021 in Washington, DC. Disgraced FTX founder Sam Bankman-Fried, who said he once considered himself a "model CEO," tweeted last week that he would testify before tomorrow's House Financial Services committee hearing focused on his firm's blowup. FTX's new CEO, John J. Ray III, who oversaw the bankruptcy of Enron, will testify in the first part of the hearing. A private lunch with the billionaire is on the table if you're willing to pony up the cash.

☆ AOC wasn't the first lawmaker to attend the Met Gala. But how she got the ticket — and that dress — may have made her a target for an ethics complaint, expert says.
▼ + stars: | 2022-12-09 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

One ethics expert told Insider a potential ethics violation would depend on who paid for her ticket. In June, the OCE, a non-partisan body, referred the complaint to the House Ethics Committee. For instance, if Facebook purchased a Met Gala table and gifted one of its seats to a lawmaker, that could constitute an ethics violation. Wintour has served as an official co-chair or honorary chair of the Met Gala nearly every year since 1995. Rep. Carolyn Maloney also attended the Met Gala on several occasions — and became the subject of a House Ethics Committee investigation this year.

☆ The wild success of Walmart's generic cream cheese perfectly encapsulates the problems with the American economy right now
▼ + stars: | 2022-12-09 | by ( Alex Bitter | Ben Tobin | ) www.businessinsider.com time to read: +4 min

Walmart's cream cheese was one of the fastest-growing brands of 2022, according to Morning Consult. It was cream cheese from Walmart. Store-brand cream cheese isn't a typical contender for most popular product, said Emily Moquin, food and beverage analyst at Morning Consult. Philadelphia is the market leader in cream cheese, Morning Consult's Moquin said. "That is partially why we see this very specific category of cream cheese being on the list."

☆ Henry VIII military letter, handwritten Mozart music on offer at auction
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

[1/5] A person holds a rare signed letter from King Henry VIII to his Lieutenant-General in France before the English victory at the Battle of the Spurs and autograph music manuscript by Wolfgang Amadeus Mozart, at Christie's in London, Britain December 7, 2022. REUTERS/Maja SmiejkowskaLONDON, Dec 9 (Reuters) - A military letter from King Henry VIII and a sheet of music written in Mozart's own hand at the age of 17 are among lots being offered at auction house Christie's "Valuable Books and Manuscripts" sale in London next week. The letter has an estimate of 25,000 pounds to 35,000 pounds ($30,702 - $42,983). "Whereas we do occasionally see Henry VIII letters coming up, what’s particularly rare about this one is that it’s a campaign letter, it’s about war, it’s about his strategy," Mark Wiltshire, specialist in the books and manuscripts department at Christie's London, told Reuters. It has an estimate of 80,000 pounds - 120,000 pounds.

☆ Walmart-backed fintech startup plans to launch its own buy now, pay later loans
▼ + stars: | 2022-12-09 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Buy now, pay later allows customers to gradually pay off a purchase with fixed monthly payments, along with interest. The news about the Walmart-backed startup's interest in buy now, pay later was first reported by The Information. Buy now, pay later has become a more crowded space, with companies including Affirm, PayPal , Klarna and AfterPay all offering their own versions. Apple also announced plans to launch its own buy now, pay later option, Apple Pay Later. Ahead of last holiday season, it ended its layaway program and replaced it with the buy now, pay later financing.

But many are delaying IPOs amid a stock market rout that has raised concerns over frothy tech valuations. In a statement to Reuters, Snapdeal said it has decided to withdraw the IPO prospectus "considering the prevailing market conditions", without elaborating. It adding that Snapdeal may reconsider an IPO in future depending on its need for capital and market conditions. The change of Snapdeal's plans comes as tech stocks in India that listed in recent years face investors' wrath. In August, TPG and Prosus-funded Indian online pharmcy PharmEasy withdrew papers for its $760 million IPO, while Warburg Pincus-backed seller of wireless earphones, boAT Lifestyle, also withdrew its papers in October.

☆ Walmart's entry into 'buy now, pay later' is a further endorsement of the service, says D.A. Davidson's Brendler
▼ + stars: | 2022-12-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart's entry into 'buy now, pay later' is a further endorsement of the service, says D.A. Davidson's BrendlerChris Brendler, D.A. Davidson senior equity analyst, joins 'Closing Bell: Overtime' to discuss Walmart's plan to enter the buy now, pay later space.

☆ Check out the pitch deck the Y Combinator alum SilkChart used to raise $5.2 million from investors like SoftBank
▼ + stars: | 2022-12-07 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

The marketing startup SilkChart seeks to help businesses better understand their advertising data. It was in Y Combinator's spring 2022 class and says it was able to grow revenue during the program. Now, SilkChart has raised $5.2 million in funding to scale its data-analytics business. Investors include Y Combinator, SoftBank, the ad agency Dentsu, Harlem Capital, and Global Founders Capital. Check out the 12-slide pitch deck that the founders of SilkChart used to raise $5.2 million in funding:

Even as inflation persists, there are some bright spots where high prices are easing, Walmart's CEO said Tuesday. Toys, clothing, and sports equipment categories are all seeing prices come down, Doug McMillon told CNBC. “In toys, sporting goods, apparel, and categories like that, prices have come down more aggressively,” McMillon said in the interview. The categories are all ones in which big-box retailers placed large backlogs of orders as the pandemic set in. In the same interview on Tuesday, Walmart's McMillon warned that some grocery prices are still rising, including chicken and some dry goods.

☆ Walmart CEO says inflation on toys and clothing is letting up. This could help the retailer put a dent in its excess inventory.
▼ + stars: | 2022-12-06 | by ( Ben Tobin | ) www.businessinsider.com time to read: +3 min

That could help Walmart work down its stockpile of discretionary goods, as inflation has tightened wallets. "In toys, sporting goods, apparel, categories like that, prices have come down more aggressively," McMillon told CNBC on Tuesday. The softening inflation in non-essential categories comes as Walmart has been trying to clean out its inventory heading into 2023. Walmart finished the first quarter of 2022 with a 32% year-over-year increase in inventory due to inflation and supply-chain issues. In earnings calls throughout the year, McMillon, Walmart US President and CEO John Furner, and others in leadership have all said that the category is contributing to excess inventory.

☆ Bank of America sees a super volatile year ahead but has 2 stock-buy strategies so you can sleep at night
▼ + stars: | 2022-12-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

"We expect another volatile year and recommend owning High Quality stocks … But today's High Quality stocks look different than a few years ago (e.g. The oil refiner posted third-quarter earnings and revenue that beat Wall Street's expectations in October. The health insurer beat analysts' expectations with its third-quarter earnings report in November. Walmart's strength in its third-quarter earnings came from its food business, which is bigger than Target's. Walmart's per-share earnings beat expectations , while Target reported a third-quarter earnings miss and profit that fell by about 50%.

☆ Shopify told employees not to engage with tweets about its hosting of the controversial Libs of TikTok store, leaked messages show
▼ + stars: | 2022-12-05 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Shopify told employees not to engage with tweets about its business ties with Libs of TikTok. They were told not to engage with tweets about the Libs of TikTok store or discuss details of any store except with the owner of that store. CEO Tobi Lütke also appeared to block people who posted or engaged with tweets about the Libs of TikTok store and its use of Shopify's platform. "I personally don't condone this business making a profit by using the Shopify platform," another employee said. Lucas Jackson/ReutersShopify's policies have been criticized beforeIt's not the first time that Shopify's acceptable-use policy has been a topic of intense discussion.

☆ Russia says the West must recognize its control over land its forces are losing before any Ukraine peace talks
▼ + stars: | 2022-12-02 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +4 min

Russia does not fully control these regions and has been losing ground to Ukraine's forces. Biden said he'd hold talks with Putin if the Russian leader expresses a desire to end the war. Russian President Vladimir Putin announced the illegal annexations of four Ukrainian regions in September, though Russian forces did not fully control these territories at the time. The president also said the only way for the Ukraine war to end is for Putin to recall his forces. "But at the same time — it is very important to give this in conjunction — President Putin has been, is and remains open for contacts, for negotiations.

☆ Walmart's active-shooter training is so old and 'inadequate' that it has become a meme, some workers say
▼ + stars: | 2022-12-02 | by ( Ben Tobin | ) www.businessinsider.com time to read: +6 min

Walmart's active-shooter training has been around in some form for at least a decade, employees say. Some workers say Walmart needs to do more on top of the training to address workers' mental health. Three current and former employees of the retail giant told Insider the active-shooter training wasn't enough to keep them safe. Walmart employees told Insider they're worried about whether the quarterly active-shooter training had prepared them for violence in stores. The lawsuit also said the shooter "repeatedly asked coworkers if they had received their active shooter training."

☆ CEOs from Kroger and Albertsons say they’re worried about competition from Amazon, but the e-commerce giant barely makes up 1% of US grocery sales
▼ + stars: | 2022-12-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

The CEOs of Kroger and Albertsons say their proposed merger will help them defend against Amazon. But Amazon's market share is a fraction of larger players, including both Kroger and Albertsons. But market share data suggests that a combined Kroger and Albertsons would be much larger by sales than Amazon the day the merger takes place. For all of its moves in grocery, Amazon commanded just 1.2% of sales, according to Euromonitor. The entire US grocery market represented $1.27 billion in sales last year, according to Euromonitor.

☆ Frappart ends 92-year wait for a female referee at a men's World Cup
▼ + stars: | 2022-12-01 | by ( Manasi Pathak | ) www.reuters.com time to read: +2 min

AL KHOR, Qatar, Dec 1 (Reuters) - France's Stephanie Frappart made history on Thursday when she became the first woman to take charge of a men's World Cup finals game during Costa Rica's Group E match against Germany. Frappart, 38, led the first all-female refereeing team in a men's World Cup in the game at the Al Bayt Stadium alongside assistants Neuza Back from Brazil and Mexico's Karen Diaz. Frappart entered the history books when she became the first woman to referee a French Ligue 1 match in 2019, officiating a game between Amiens and Strasbourg. The same year, Frappart also took charge of the UEFA Super Cup between Liverpool and Chelsea, becoming the first woman to officiate in a major men's European match. "The men's World Cup is the most important sporting competition in the world," said Frappart, who was also the fourth official during Mexico's goalless draw with Poland at the Qatar World Cup.

☆ US recession odds are 'extremely elevated' and a downturn is likely to hit within the next year, chief economist says
▼ + stars: | 2022-12-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Vincent Reinhart, the chief economist of Dreyfus Mellon, is expecting a recession to hit within the next 12 months. "There is an extremely elevated chance of recession," he told Bloomberg on Thursday. "It's hard in a sense that they have to put pain on the economy to get inflation down," he said. "But it's spillover to service inflation, that's what you've got to worry about, that's what Powell's worried about. The durable part of inflation that's still above the Fed's goal."

☆ First female referee is 'positive step' says Costa Rica coach Suarez
▼ + stars: | 2022-11-30 | by ( Martyn Herman | ) www.reuters.com time to read: +2 min

AL RAYYAN, Qatar, Nov 30 (Reuters) - Stephanie Frappart's appointment as match referee for Thursday's crunch World Cup clash between Germany and Costa Rica is a step forward for women in a "sexist sport", according to Costa Rica manager Luis Fernando Suarez. The 38-year-old Frappart will be joined by Brazil's Neuza Back and Mexico's Karen Diaz as she puts down another marker for female officials having also been the first woman to referee a men's World Cup qualifier in March. Last week, she became the first female official at a men's World Cup when she was fourth official for the Poland v Mexico Group C tie, but on Thursday she will be more in the spotlight. "I think it's great and it's a huge achievement for women globally," Borges, who is playing in his third World Cup for the Costa Ricans, told reporters. "I just hope she has a good match and that we can help her make it an easy match."

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The estimate from Adobe Analytics predicts an increase of up to 8.5% from a year earlier. Adobe Analytics measures e-commerce performance by analyzing purchases at 85% of the top 100 internet retailers in the United States. Both Adobe and MasterCard Spending Pulse are expected to release their updated Cyber Monday spending estimates on Tuesday. Americans have put off holiday shopping for weeks in the hopes of finding deeper post-Thanksgiving markdowns. Last year, Cyber Monday sales fell 1.4%, according to Adobe Analytics, as retailers kicked off holiday promotions early to avoid product shortages amid a global shipping crisis.

☆ Elon Musk slams Tesla founder Martin Eberhard in response to a tweet about the company's origin: He 'could have risked his money, but was unwilling to do so'
▼ + stars: | 2022-11-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Eberhard once sued Musk, alleging libel because Musk said he's a Tesla founder. Eberhard told Insider that Musk's comments on Tesla's history were "typical" of the billionaire. "Not one sentence of that tweet is true," Eberhard told Insider. In 2009, Eberhard sued Musk, alleging libel and slander because Musk started calling himself Tesla's founder. "I was thinking that I should do what every guy does and buy a sports car," Eberhard told Insider in 2014.

☆ Elon Musk slams Tesla founder Martin Eberhard in response to a tweet about the company's origin: he 'could have risked his money, but was unwilling to do so'
▼ + stars: | 2022-11-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Eberhard told Insider Musk's comments on Tesla's history were "typical" of the billionaire. "Not one sentence of that tweet is true," Eberhard told Insider. In 2009, Eberhard sued Musk, alleging libel and slander because Musk started calling himself Tesla's founder. "I was thinking that I should do what every guy does and buy a sports car," Eberhard told Insider in 2014. Eberhard told Baer it was the first time he butted heads with Musk.

☆ Ben Affleck and Matt Damon just scored $100 million from RedBird Capital. Check out 15 more private equity players making big bets on Hollywood.
▼ + stars: | 2022-11-28 | by ( Elaine Low | Claire Atkinson | Madeline Berg | ) www.businessinsider.com time to read: +5 min

Private equity firms are investing heavily in film and TV companies, even amid a possible recession. Private equity accounted for 42% of deals over the last year vs. 24% in 2018, according to PwC. RedBird Capital just invested $100 million in Ben Affeck and Matt Damon's new production company, Artists Equity. And earlier that month, Swedish firm EQT invested in UTA, which makes the private equity player the largest outside shareholder of the talent agency. Insider's second annual list of the top private equity players in Hollywood highlights 16 firms, based on our reporting and conversations with investors and insiders.

☆ 40+ best Walmart Cyber Monday 2022 deals from Ninja, Sony and more
▼ + stars: | 2022-11-27 | by ( Mili Godio | Mili Godio Is An Associate Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +15 min

SKIP AHEAD Best Walmart Cyber Monday sales |What to expect during Walmart’s Deals for Days 2022 | Walmart Black Friday and Cyber Monday price matching | What is Walmart+? To help you make the most of Walmart’s Deals for Days this year, we will continuously compile standout deals to consider based on Select reader interest and our previous coverage. Best Walmart Cyber Monday deals to shop nowBased on our previous coverage and Select reader interest, we rounded up some of the best deals from Walmart’s Cyber Monday sale. Best Walmart Cyber Monday sales to shop nowHere are some of the best sales to shop for during Walmart’s Cyber Monday sale that we think you’ll want to know about. What to expect during Walmart’s Deals for Days 2022Walmart’s Black Friday and Cyber Monday savings event — known as Deals for Days — hosts deals through most of November.

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