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☆ Tapestry bets on high prices as Coach parent cuts 2024 sales view
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

A signage is seen in the offices of Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021. Shares of the Coach parent rose 6% in early trading, as its profit beat market expectations. Sales at Coach, Tapestry's biggest brand, grew 3%, as demand for its Tabby shoulder bags nearly doubled from last year. It expects 2024 revenue of about $6.7 billion, lower than its prior target of nearly $6.9 billion, weighed by a stronger dollar. Net sales were flat at $1.51 billion in the quarter ended Sept. 30 from last year.

Persons: Andrew Kelly, Joanne Crevoiserat, Crevoiserat, Savyata Mishra, Juby Babu, Arun Koyyur Organizations: Tapestry, Inc, REUTERS, Capri, U.S . Federal, Thomson Locations: Manhattan , New York, U.S, North America, China, Bengaluru

☆ Goldman Sachs just promoted 608 employees to the coveted role of managing directors. See the full list here.
▼ + stars: | 2023-11-02 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +14 min

Goldman Sachs announced its 2023 class of managing directors Thursday afternoon, giving 608 employees the coveted title. It's a smaller cohort than the bank's 2021 MD class, down 5% amid a dealmaking slowdown. Still, Goldman appears to have taken pains to promote employees in revenue-generating divisions like investment banking and trading. Goldman says the percentage of women it promoted as part of the 2023 MD class sets a record, up 1% from 2021. Two years ago, Goldman promoted the largest managing director class in its history, naming 643 employees to the designation in 2021.

Persons: Goldman Sachs, Goldman, David Solomon, John Waldron, we've, Solomon, Waldron, Goldman Sachs Fereshteh Abbasi Thomas Abe Devina Abreo Francesca Adamski Emmanuel Adenitire Gopal Agarwal Prasoon Agarwal Udit Agrawal Khamran Ali Omar Alzaim Dorothee Amar Akbar Amin Joe Amsler Wilfred Amuri Jack Anstey Paul Antonios Hidemi Aoki, Carolina Aragon Gonzalez Nelson Armbrust Georgina Aspden Laurene, Gisha, Sharon Babick Navin Babu Alexey Bachurin Alberto Bacis Patrick Badaro Rahul Bajaj Elise Bal Tanya Ballaram Brian Baltz Guillaume Banderet Nirav Bansal Nitin Bansal Swati, Chalapathi, Andrei Banu Camella Barnes James Barry Elisa Anna Bassu Aman Batra Eleanor Beasley Nicole Beavan Michael Becker Yukiko Beer Omar Benchekroune Richard Bennett Nigel Beslee Ashima Bhalla Nikhil Bhandari Nimita Bhargava Bodha Bhattacharya Rebecca Bibb Roseline, Rahul Bindu Mark Bird Leo Biselman Christian Blanc Patrick Bogues Michael Boratin Katherine Bordlemay Gabriela Borges Kate Boucher Erik Bouland Joanne Braidi Chris Brett Joseph Briggs Charles Brockett Emmeline Brothers Aaron Brown Adrienne Brown Kevin Bryck Archana Budida Oliver Bunn Rebecca Burgoyne Andrew Burpitt Todd Byers Patrick Byrne Michael Cahill Ashley Caldwell Jake Caldwell Serdar Caliskan Jon Calluzzo Stewart Campbell Samantha Cantor Yuri Cantor Dan Carabas Gemma Carlaw Laura Carroll Tim Carson Matt Carter Quentin Cezard Alex Cham Simon Chamama Heidi Chan Patrick Chan Suraj Chandran Kim Cheah Jon Cheh CP Chen Nelly Cheng Sarrah Cherhabil Jackson Cheung Michael Cheung Rama, Stan Chiu Anish, Kunal Choraria Ankit Chowdhari Dario Claus Cosimo Codacci, Michael Coleman David Collerd Shannon Collins Francesca Condini Lee Coppersmith John Couch Tim Creamer Maziar, Satish Damodaran Gareth Davies Serkan, Nick De Kock Ann de la, Nick De Kock Ann de la Montaigne Jan Debeuckelaer Molly Decker Gabrielle Decrion Laurent Dedieu Antoine Demongeot Yannick Derippe Deepalakshmi Desai Tim Desiano Joshua Dezube Randeep Dhillon Javier Diaz, Merry Matheus, Jared Dickow Alex Doell Mao Dong Praneil Doolabh Daniel Dooling Michelle Dorea Szymon Doroz Jacqueline Du Benjamin Duell Kelsey Dumont Julie Duval Todd Ebe Dayo, Jeremy Eisenstein Chris Elmore Ryan Erickson Joaquin Escribano Larry Estrada Pavel Fadeev Will Fairbourn Jeremy Falgiani Fabio Federici Wenlong Fei David Felman Sophia Ferguson Zach Fernandez David Fernandez Miguez Scott, William Fio Rito Duffy Fischer Lisa Florentine Akshay Fomra Janice Foo Nicholas Forbat Elie Franko Georgina Fraser Jason Freeman Nicole Freeman Oliver Friedberg Gavriel Friedland Ross Fuller Angela Fung Greg Furness Nikhil Gadodia Stefano Gamba Amit Singh Gambhir Javier Gandara Giorgio Gandola Amit Gangrade Sudha Garimella Mima Garland Mingmin Ge Graziano Gemma Shefali Gera Constance Germain Brad Gifford Benjamin Giles Abbas Ginwala Marlene Giorgio Thomas Giovachini Zachary Glasser Guillaume Gnech Harley Golding Yuriy Goldman Jesse Goldstein Roy Golender Sharon Gonnella Alejandro Gonzalez Steven Gooden Jessie Gould Varun, George Graf von Waldersee Florian Granier Jamie Greenberg Brian Grzelakowski Alessandro Guicciardi Michael Guiliano Samuel Guinness Bivash Gunpath Deepa Gupta Parikshit Gupta Lauren Gutierrez Johannes Hahn Chris Hallam Alex Halpern Christina Halpin Michael Hamilton Brooke Hammel Saki Hanioka John Hanson Mathew Harris Ally Hart Amy Harwood Tom, Emily Hashimoto Rob Haslam Michael Heino Brandon Herde Sarah Higgins Camilla Hill Spencer Hill Sho, Cecilia Ho Jonathan Ho Bryan Hoffman Kevin Hoffmeyer Eliza Hollyday Simon Holmes Mehdi, Lily, Derek Hu Jennifer Hui Tim Huiszoon Camille Humbert Kurt Humes Kelley Hutchison Masayuki Ichioka Andrew Imber Calvin Isaac Jackson Isaacs Sharif Ismail Yu, Doug Michael Jaffa Nitin Jagga Rahul Jain, Jataprolu Fiona Jervis Yinpeng Jin Sandeep Jindal Jennifer Jochinger Steven Johnson David Johnstone Megan Jordan Nicolas Joseph Bob Kadel Jean Kam Harneet Kaur Vinay Kaura Peter Kelman Stephanie Kenary Maggie Keohan Humayun 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Marinheiro Kevin Martens Masato Maruyama Lucinda Mataka Rishi Mathur Pierre Maugest Scott Maxfield Andrei Maxim Michael McClurg Selina McCole Jeff McCown Andrea McGee Sinead McGuigan John McGuinness Benjamin McRoberts Amit Mehrotra Gaurav Mehta Kelly Mellecker Josef Menasche Raf Mercado Alexander Mielke Rachel Miles Christopher Miller Megan Miller Robert Miller Max Minton Edward Mitchell Oliver Money Tyler Moni Anna Montvai Taylor Moore Anthony Moschella Brandon Moy Faraz Munaim Sasha Munn Ashok Musuvathy Negar, Julian Naden Robinson Hiroki Nagamine Srijith Nair Cornelius Namiluko Sanjiv Nanwani Jay Narain Robert Andranik Nazarian Jovan Negovan Ryan Newman Michael Ng, Tasuku Nishihara John Nixon Kristy Nomi Alexandre Nunes Patrick O'Callaghan Yusuke Ochi KC O'Connor David Olivares Erica Olsen Victoria Ortengren Anas, Peter Pace Robert Packwood Nitin, Ellen Pak Ruth Pan Pedro Panizo Jayshri, Rahul Parikh Dan Parisi Freddie Parker Phil Parsons Peter Paruch Paul Pate Bella Patel Preya Patel Rakesh Patel Amit Patni Ed Paulinski Adam Pennacchio Kyle Penton Abhishek Periwal Michael Perrier Yoric Perrin Rasmus Persson Tommy Pinhas, Marco Poletti Megan Prasad Avijit Praveer James Puccinelli Sameer Punde Rob Pyne Na Qiao Valentina Quadri Marco Quirico Anya Radford Abhishek Rai Rahul Raj Ram Rajamony Ryan Ramsay Rami Rankoussi Nach Rao Pawan Rao Anurag Rathi Philip Renton Noel Reyes Ruth Reynolds Timothy Richards Peter Richter Brigid Riley Hutchinson Nick Rill Kristina Ristagno Vicky Ritter Martin Roberson James Roberts James Robinson Giorgio, Erin Roos Erin Ross Sumit Roy Conrad Ryan Soo, Ryu David Sage Jai Sahani Namita, Sarah Sakkej Karim Saleh Ayesha Salman Divya Samani Henrik Samuelsson Ryan Sansalone Vikram Sarker Shalini Satish Babu Charlotte Saury, Hania Schmidt Helene Schmitt Emily Schorr Wendy Schrunk Thomas Schwegler Michael Sciancalepore Brandon Seaman Benjamin Seigel Gamal Selvarajah Nicholas Semeniuk Devjoy Sengupta Michael Shafik Arpan Shah Shashwat Shah Shahnawaz Shahbaz Manoj Sharma Sachin Sharma Wazila, Gunduz Shirin Alex Silver Asmita Singh Kamalpreet Singh Andrew Sinnott Sapna, Dan Skinner Andrew Snow Stephanie Snyder Farouk Soussa Christopher Spahr Erik Sparks Matt Speltz Naveen Srinivasan Bhargav, Warren, Damian Steele Tobias Stein Catherine Stemp Dave Stringer Shekar Subramanian Jordan Sudy Philipp Suess Fatima Sultana Lu Sun Kumar Sundaram Fiona Syer Matthew Sykes Tofi, Filippo Taddei Sandhya Tadishetty Omer Tanvir Rita Taylor Zachary Tcheyan Brian Teague Wesley, Caitlin Terry Thomas Tesauro Hemal, Justin Therry Christine Thornburg Gregory Thysheril Angelo Tierno Alexander Tingle Ryan Townsend Cynthia Trillo Dimitris, Jessica Tung Jonathan Tung Ezgi, Zachary Upcheshaw Kiyomi, Nadine Urseanu Jim Vais Pim Valantagul Perrin Van Allen Annerieke van Dijk Jeroen van Dorp Dennis van Laer Todd van Stolk, Riley Jacqueline Vargas Alexander Vavalidis Edwin Velez Prasanna Venugopal Tim Verheyden Amanda Verstegen Ankit Vijay Vargiya Salvador Villanueva Arthur Villard Sichel Denzel Voesenek Bradley Wainwright Adam Walker Barbara Walters Omar Waly Daniel Wang Kenneth Wang Kristen Ward Gavin Warren Michael Washington Harry Webster Fredrik Weege Brian Weiss Thomas Weitz Nat Wells Joe Wenzel Tim Whitehead Henry Willans Matthew Williams Taylor Williams Katie Wilson Richard Wilson Stephanie Wisner Ilana Wolfe Jake Woodson Jeff Wu Qi Wu Jackson Yang Esma, Yoon Harm, John Zhai Jenny Zhang Lynn Zhang Raye Zhu Jane Zhuang Hans Zijlmans Carolyn Zimmer Samia Zitouni Mira Zorkot Organizations: Goldman, Wall, Carolina, Nick De Kock Ann de la Montaigne, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc Mary Locations: Europe, Asia, India

☆ One of the Touchiest Housing Decisions: Do We Stay or Do We Go?
▼ + stars: | 2023-11-01 | by ( Joanne Kaufman | ) www.nytimes.com time to read: +1 min

“My wife would have been very happy to be in Arizona full time and I would much prefer to be in California full time — I was adamant that we were going to keep the house in Mill Valley as our base,” Mr. Goldsholle said. “But my wife has been a good sport and I’m willing to split the year with her.”Among couples of a certain age, there are many iterations of the “what will we do in retirement” question, said Gail Saltz, a psychiatrist in private practice in New York, and a clinical associate professor of psychiatry at the NewYork-Presbyterian Hospital, Weill-Cornell Medical College. “One iteration may be that one member of the couple wants to retire, the other doesn’t. “It may hark back to discussions around earlier transitions like ‘will we have children? How many?’ Will we stay in the city or raise them in the suburbs?’ “

Persons: Mr, Goldsholle, Gail Saltz, Saltz Organizations: Presbyterian Hospital, Weill, Cornell Medical College Locations: Arizona, California, Mill Valley, New York

☆ Ready to Retire? Consider Your Family First.
▼ + stars: | 2023-10-31 | by ( Joanne Kaufman | ) www.nytimes.com time to read: +1 min

But unable to make a final decision she asked her elder daughter, a college administrator in Richmond, Va., to come north and weigh in. Her daughter did as requested, only to suggest that her parents consider another option altogether: a senior living community in Richmond. “I asked her, ‘Why on earth would I do that?’” recalled Mrs. Genoni, now 79. “And then she told us, ‘Sooner or later one or both of you are going to need an advocate,’” Mrs. Genoni recalled. “‘Why would you make me worry about you from a distance when you could be living near me?’”

Persons: Marta Genoni, Kenneth, “, ’ ”, Genoni, ‘, ’ Organizations: New York City Ballet, New York Philharmonic, ‘ Sooner Locations: Westfield, N.J, Richmond , Va, Richmond, New Jersey

☆ The shaky stock market is making Americans feel uneasy
▼ + stars: | 2023-10-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Americans’ moods soured this month, largely due to a wobbly stock market. The survey also showed that Americans became more pessimistic about the economy’s outlook for the year ahead. The tech-heavy Nasdaq tilted into correction territory Thursday as shares of some Big Tech companies slipped. Meanwhile, Americans’ inflation expectations for the year ahead worsened in October, jumping to 4.2% from 3.2% in September, the highest reading since May. The Federal Reserve pays close attention to inflation expectations, particularly longer-term expectations.

Persons: Joanne Hsu Organizations: DC CNN, University of Michigan’s, Consumers, Investors, Federal Reserve, Treasury, Meta, Microsoft, Google, Big Tech, Apple, Nvidia, Fed Locations: Washington

☆ Doxing of protesting students is 'really disturbing', says Yale's Joanne Lipman
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoxing of protesting students is 'really disturbing', says Yale's Joanne LipmanHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Yale's Joanne Lipman, Brian Sullivan, “ Organizations: CNBC

PHILADELPHIA (AP) — An acquaintance has been charged in the death of a Philadelphia journalist who went from sleeping on the street to working for the mayor to writing urgent columns on the city’s most pressing social issues. Robert Edmond Davis, 19, faces murder, weapons counts and related charges in the death of Josh Kruger, 39, who was shot and killed at his Philadelphia home Oct. 2. Kruger was shot seven times at about 1:30 a.m. and collapsed in the street after seeking help, police said. Kruger handled social media for the mayor and communications for the Office of Homeless Services from about 2016 to 2021. He wrote at various times for Philadelphia Weekly, Philadelphia City Paper, The Philadelphia Inquirer and other publications, earning awards for his poignant and often humorous style.

Persons: Robert Edmond Davis, Josh Kruger, Davis, Damica Davis, Kruger, there’s, “, ”, University’s, JoAnne Epps, bicyclist Organizations: PHILADELPHIA, Philadelphia, South Philadelphia, Authorities, Philadelphia Inquirer, City Hall, The Philadelphia Citizen, Council, of Homeless Services, Philadelphia Weekly, Philadelphia City, Elon Twitter Locations: Philadelphia, America, Rittenhouse

☆ Insiders question WPP CEO Mark Read's bounceback plan after chaotic period of mergers, account losses, and a stock market slump
▼ + stars: | 2023-10-25 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +11 min

"OMD and Publicis are winning all the meaningful pitches," said a former WPP agency executive, referring to competitors Omnicom and Publicis Groupe. Further, GroupM is just one of the many parts of WPP's business that Read needs to fix. Insiders describe a whirlwind of change but confusion about the bigger visionA current WPP agency executive said they were frustrated by what they described as a vacuum of information about the bigger strategy for WPP. Getty Images"It feels like something bigger has to happen now," said a current WPP agency executive. The ongoing pitch for Volkswagen's $4 billion global media business underscores the tremendous amount of resources needed to win the proposal, and the huge prize at stake.

Persons: Christian Juhl, San, GroupM, Publicis, Kirk McDonald, McDonald didn't, Ogilvy, it's, Thomas Singlehurst, Juhl, Mark Read's, It's, Read, Martin Sorrell, AKQA, Sard, Wunderman Thompson, J.Walter Thompson, Joanne Wilson, Andrew Scott, Roberto Quarta, Angela Ahrendts, Craig Barritt, —, haven't, Clark, Arthur Sadoun, WPP's Read, Michael Farmer Organizations: WPP, Publicis, L'Oreal, Omnicom Media Group, Pfizer, North, GroupM, Verizon, Discovery, Adobe, Citigroup, Shanghai, reined, AKQA Group, Finsbury Glover, Partners, Young, Rubicam, London Stock Exchange, Brexit, Getty, Burberry, Apple, The New School Industry, VW, Groupe, Epsilon Locations: San Francisco, China, EssenceMediaCom, Kansas, Kansas City, New York, Mayfair , London, New York City

The man, whose name was redacted in the document, said he worked as a “political tracker” for America Rising. The police report links to two websites as potential employers, one at an America Rising corporation and one for an America Rising political action committee. The mansion on Mackinac Island is a summer residence for any Michigan governor in office. The governor's team would not confirm whether she was at the Mackinac Island residence on Aug. 26, citing security concerns. Her chief of staff said the August incident on Mackinac Island was considered “extremely serious,” in light of the previous criminal cases.

Persons: Gretchen Whitmer’s, ‘, It's, Whitmer, ”, ” Det, Aaron Sitko, Lori Dougovito, James Grady II, ” Whitmer, ” JoAnne Huls, “, Elissa Slotkin, Xavier Becerra, Slotkin Organizations: Michigan Gov, The Associated Press, America, America Rising, Michigan, Police, AP . State, Democratic U.S . Rep, Health Locations: LANSING, Mich, Michigan, Mackinac, ”, Brighton , Michigan

☆ Is Roz Chast ‘Terrible at Decorating’? You Decide.
▼ + stars: | 2023-10-24 | by ( Joanne Kaufman | ) www.nytimes.com time to read: +1 min

For years after she moved to Connecticut from New York, Roz Chast had recurring dreams about her beloved post-college apartment on West 73rd Street. The storyline and set design of those reveries varied, but she was always on the street where she had lived. “Or the building had been turned into a hotel. Or there was a marble staircase. Or I had an apartment that had this giant hole in the middle where I could look into the apartment below.

Persons: Roz Chast, ”, Chast, — Locations: Connecticut, New York, The

☆ Americans are becoming more worried about inflation after resumption of student loans
▼ + stars: | 2023-10-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Persistently high inflation took a toll on Americans’ attitudes this month as many began to pay back student loans following a three-year hiatus. The University of Michigan’s consumer sentiment index fell 7% in October from the prior month, according to a preliminary reading released Friday. October marks the first month of Americans paying back their student loans since the pandemic-related pause. The pause gave relief to more than 43 million Americans who have student loans, with the vast majority owing less than $40,000 and nearly one-third owing less than $10,000. Expectations can worsen, the longer inflation remains elevated, so the upward pressure from higher gas prices on headline inflation can make Americans more pessimistic about inflation.

Persons: DC CNN —, ”, Joanne Hsu, “ Organizations: DC CNN, University of, Consumers, Federal Reserve Locations: Washington, Wells Fargo

☆ House speaker race injects chaos into high-dollar Republican fundraising
▼ + stars: | 2023-10-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Kevin Lamarque | ReutersThe messy race to elect the next Republican speaker of the House of Representatives is injecting chaos into the typically genteel world of high-dollar GOP fundraising, threatening to disrupt a vital element of the Republican strategy to maintain its House majority. One faction of wealthy donors is intent on exacting revenge on the eight Republicans who voted with Democrats to oust former speaker Kevin McCarthy, according to people familiar with the matter. They're all saying, 'don't give, don't raise any money,'" a Republican fundraiser said. "If you have scheduled a fundraiser for any Republican House member who refuses to vote for Scalise, cancel it. Losing Kevin McCarthy will be damaging for fundraising," a longtime Wall Street Republican fundraiser said.

Persons: Kevin McCarthy, Kevin Lamarque, Andy Sabin, Sabin, Matt Gaetz, McCarthy, Nancy Mace, Win Mcnamee, Steve Scalise, Scalise, Eric Levine, Saul Loeb, Eiseman Levine, Levine, Joanne Zervos, McCarthy's, Zervos Organizations: Capitol, Republicans, GOP, Republican, CNBC, U.S, Getty, Republican House, AFP, New, Wall Street Republican, U.S . Rep, U.S . House Locations: Washington , U.S, Florida, South Carolina, California, Washington , DC, Louisiana, New York

Consumers fell prey to inflation that remains high, especially for life’s necessities like food and gasoline, according to the latest monthly survey from the University of Michigan. The consumer sentiment survey fell by 7% overall to 63 from 68.1 in September, while the current conditions reading dropped to 66.7 from 71.4 and the future expectations was at 60.7, down from 66 a month ago. Notably, expectations for the annual rate of inflation a year from now rose to 3.8% from 3.2% in September. “Assessments of personal finances declined about 15%, primarily on a substantial increase in concerns over inflation, and one-year expected business conditions plunged about 19%,” said Joanne Hsu, survey director. “Owners remain pessimistic about future business conditions, which has contributed to the low optimism they have regarding the economy,” said Bill Dunkelberg, NFIB chief economist.

Persons: ”, Joanne Hsu, Sam Bullard, Joe Brusuelas, Tuan Nguyen, NFIB, Bill Dunkelberg, JP Morgan Chase, Jamie Dimon Organizations: University of Michigan, Monetary Fund, Federal Reserve, Federal Reserve Bank of Atlanta, Wells Locations: U.S, Washington

☆ Quiet cutting: How power in U.S. offices may be shifting back to bosses
▼ + stars: | 2023-10-13 | by ( Anuz Thapa | ) www.cnbc.com time to read: +1 min

In the American workplace of 2023, a new labor market trend has taken over where "quiet quitting" left off. Quiet cutting. "Quiet cutting is what some people consider a subcategory of quiet firing," said Nadia De Ala, a leadership and negotiation coach. "Quiet cutting suggests that the balance is shifting, with employers gaining more control." Watch the video above to learn more about quiet cutting and what this workplace trend tells us about the U.S. job market and the overall economy.

Persons: Nadia De, we've, Joanne Lipman Organizations: Yale University Locations: American, Nadia De Ala

☆ Nominate a leader for CNBC's debut Changemakers list: Women transforming business
▼ + stars: | 2023-10-03 | by ( Julia Boorstin | ) www.cnbc.com time to read: +6 min

Game-changing female leadership is a topic that is close to my heart, and I'm thrilled to announce a new annual list at CNBC, Changemakers: Women transforming business. The list will highlight 40 trailblazing women who have accomplished meaningful achievements in the past year, women from companies and organizations across all sectors of the economy, including philanthropic organizations. Together, we will highlight how today's successful women leaders are taking novel approaches to old business problems and identifying new business opportunities. To help us identify a diverse and inclusive list, we have created an advisory board of experienced leaders across the business and philanthropic space. CNBC Changemakers are the new icons rewriting the rules and shaping the dynamic business landscape.

Persons: I'm, I've, — Joanne Bradford, Desiree Gruber —, Marcela Miguel Berland, Tory Burch, Burch, Emma Carrasco, Corporate Affairs Srikant Datar, Harvard Business School Dean Karen Finerman, Beth Ford, Ken Frazier, Desiree Gruber, Kris Jenner, Oscar Munoz, Laurene Powell, Emerson, Sheryl Sandberg, Stacy Smith Organizations: CNBC, Fortune, Tory, NBCUniversal, Corporate Affairs, Harvard Business School, Metropolitan Capital, Catalyst's Health, Merck, United Airlines, OptionB.org, Annenberg, CNBC Changemakers Locations: Silicon

☆ Government shutdown, labor strikes will likely weigh on US consumers’ attitudes
▼ + stars: | 2023-09-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans are taking notice of a possible government shutdown and the uncertainty of ongoing labor strikes, according to the University of Michigan’s latest consumer sentiment survey. The university’s Consumer Sentiment Index edged lower by 1.4 points in September, according to a final reading. That would mean some federal workers become furloughed and agencies operate with skeleton crews, hamstringing agencies’ ability to provide crucial government services. The ongoing United Auto Workers strike is also not expected to end soon. With so much turmoil, Americans will likely feel uneasy in the coming weeks, which could affect their spending.

Persons: ”, Joanne Hsu, There’s Organizations: DC CNN, University of Michigan’s, “, Republicans, United Auto Workers, UAW, Ford, GM, Kaiser Permanente, Commerce Department Locations: Washington, Kaiser, California , Colorado , Oregon, Washington , Virginia, Las Vegas, Reno

☆ Acting president of Temple University in Philadelphia dies unexpectedly at 72
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Sept 19 (Reuters) - The acting president of Temple University in Philadelphia, JoAnne Epps, fell ill on Tuesday while attending a memorial service on campus and died a short time later, the school said in a statement. Epps appeared to have "suffered a sudden episode" and was "promptly attended to by emergency medical" personnel at the scene, Dr. Daniel del Portal, chief clinical officer for the Temple University Health System, told an afternoon news conference. She was then taken to Temple Hospital, "where resuscitation efforts continued but were unfortunately unsuccessful," del Portal said. "Temple has been a part of my life for as long as I can remember," Epps said in a statement when she was appointed acting president in April. Reporting by Steve Gorman in Los Angeles and Kanishka Singh in Washington; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: JoAnne Epps, Epps, Charles Blockson, Daniel del, Jason Wingard, Steve Gorman, Kanishka Singh, Michael Perry Organizations: Temple University, Local, Temple University Health System, Temple Hospital, university's, Thomson Locations: Philadelphia, Los Angeles, Washington

☆ Why the Fed's interest rate move may hinge on inflation expectations
▼ + stars: | 2023-09-19 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +3 min

The U.S. seemed to be winning its battle against inflation, but the latest consumer price index data showed inflation rose more than expected. The University of Michigan's consumer sentiment August survey indicated consumers' one-year inflation expectations were at 3.3%, marking three consecutive months of stability. Inflation expectations, or the rate at which consumers expect prices to rise or fall in the future, can influence higher prices in the economy. Inflation expectations play a crucial role in the decisions made by the Federal Reserve. But consumer expectations of inflation are still above the Fed's 2% inflation rate target.

Persons: Joanne Hsu, It's, Hsu, Claudia Sahm, Jerome Powell's, Powell, Barry Glassman Organizations: University of Michigan, The University of, Consumers, CNBC, Federal Reserve, Sahm Consulting, Federal, Kansas City, Wealth Services Locations: U.S, Jackson Hole , Wyoming

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow inflation expectations and consumer behavior can manifest higher pricesWhat people believe may happen to prices in the future can influence actual inflation. "People behave in accordance with their expectations and with their sentiment and attitudes towards the economy," Joanne Hsu, director of the Surveys of Consumers at the University of Michigan, told CNBC. Watch the video above to learn more about how inflation expectations are measured, why the Federal Reserve cares so much about what Americans predict and how consumer behavior can manifest higher prices.

Persons: Joanne Hsu Organizations: Consumers, University of Michigan, CNBC, Reserve

☆ Americans are feeling gloomier about the economy
▼ + stars: | 2023-09-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —Americans aren’t feeling gloomy about higher gas prices just yet, but they’re still on edge about inflation and the economy’s direction — and concerns are starting to surface about the possibility of a government shutdown. Consumer sentiment tracked by the University of Michigan edged down in September from the prior month by 1.8 points, according to a preliminary reading released Friday. “Both short-run and long-run expectations for economic conditions improved modestly this month, though on net consumers remain relatively tentative about the trajectory of the economy,” said the University of Michigan’s Surveys of Consumers Director Joanne Hsu in a release. Sentiment fell to its lowest level on record last summer when gas prices topped $5 a gallon and inflation reached a four-decade high. Consumers’ expectation of inflation rates in the year ahead fell to a 3.1% rate in September, down from 3.5% in the prior month.

Persons: they’re, ”, Joanne Hsu Organizations: DC CNN, University of Michigan, University of Michigan’s, AAA Locations: Washington

Consumer sentiment dipped slightly in September, indicating Americans are tentative about the direction of the economy, according to the latest survey-based index from the University of Michigan. The overall consumer sentiment index, released on Friday, retreated to 67.7 from 69.5 in August, while the current conditions assessment dropped to 69.8 from 75.7 and the forward-looking expectations index increased to 66.3 from 65.5. “Sentiment this month was characterized by divergent movements across index components and across demographic groups with little net change from last month. There was improvement in how consumers see inflation going forward. That means workers are keeping just ahead of inflation, although prices for necessities such as groceries and gasoline have increased.

Persons: ”, Joanne Hsu, “, ” Hsu, ” Bernard Baumohl, Baumohl, “ They’re, Joe Biden, – Ford, Peter Berezin Organizations: University of Michigan, Consumers, San Francisco Federal Reserve Bank, Economic Outlook, Supreme, United Auto Workers, General Motors, Senate, Fed, BCA Research, Global Locations: Saudi Arabia, Russia, U.S

☆ Nvidia isn't the only game in town. Investors advise against overlooking these other AI beneficiaries
▼ + stars: | 2023-09-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Nvidia can't stop stunning Wall Street and the investing community in 2023, but portfolio managers say don't let the excitement overshadow other potential AI winners. "Theme after theme, transition after transition, the strong usually gets stronger," said Paul Meeks, portfolio manager at Independent Solutions Wealth Management. Some retail and professional investors seemed to interpret the news as a sign that it's "game over" for some of the other AI chipmakers, Forrest said. Forrest, who's on the hunt for growth at a reasonable price, points to companies like Advanced Micro Devices, Micron Technology . On the AI chip theme, Meeks also points to Broadcom , Marvell Technology and Taiwan Semiconductor , a major supplier for Nvidia, as other ways to play the trend.

Persons: Paul Meeks, there's, Kim Forrest, Forrest, who's, Meeks, chipmaker, Capital Management's JoAnne Feeney, Feeney, it's Organizations: Nvidia, Independent Solutions Wealth Management, Intel, Devices, Broadcom, Marvell Technology, Bokeh Capital Partners, Micron Technology, AMD MU, AMD, MU, Taiwan Semiconductor, Capital, Google

☆ How an empathy-first approach can help businesses increase profitability
▼ + stars: | 2023-08-29 | by ( Sponsor Post | Created Insider Studios With Paypal | ) www.businessinsider.com time to read: +8 min

78% of global consumers said they will be more loyal to businesses that help them through difficult times. of global consumers said they will be more loyal to businesses that help them through difficult times. These activities not only help make businesses more competitive, they also show workers that employers care about their professional growth. Here are three strategies businesses are using to help consumers navigate economic instability. 5 Le Parisien, Carrefour launches an online 'anti-inflation button' to help consumers buy cheaper, Nov 2022.

Persons: Joanne Hsu, upskilling, there's, that's, Agrobank, PwC, Kantar Organizations: PayPal, TrendWatching, Consumers, University of Michigan, Carrefour, Entrepreneurship, Insider Studios Locations: verticals, Malaysia

☆ Consumers are growing slightly more cautious about the economy
▼ + stars: | 2023-08-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN —Americans’ attitudes toward the US economy appear to be growing more tepid. The University of Michigan’s closely watched consumer sentiment index measured 69.5 in August, down slightly from July. “Consumers perceive that the rapid improvements in the economy from the past three months have moderated, particularly with inflation, and they are tentative about the outlook ahead,” Joanne Hsu, director of the university’s Surveys of Consumers, said in a statement. Inflation expectations for the year ahead ticked down to 3.3% from 3.4% in July, showing “remarkable stability” but still trending higher than pre-pandemic expectations, which ranged in the 2.3% to 3% range. Inflation expectations are crucial data points for the Federal Reserve.

Persons: ” Joanne Hsu, Hsu, ” Hsu, “ Organizations: Minneapolis CNN, University of Michigan’s, Consumers, Federal Reserve Locations: Minneapolis, Michigan

☆ 44-year-old quit his $2.3 million job without a backup—here's why he's never been happier
▼ + stars: | 2023-08-23 | by ( Joanne Lipman | ) www.cnbc.com time to read: +3 min

The Power of Reinvention in Life and Work," about how to navigate change and find meaning in the way we live and work. It was a scary few years that followed, but he's never been happier, despite earning much less. He credits his successful career change to two things: setting the groundwork before quitting and being vulnerable enough to seek guidance. He didn't know it at the time, but this groundwork would later be essential to building a happy life after BlackRock. Hy's life coach gave him the tools to navigate his emotions and helped him explore questions like, "Why am I so obsessed with work?"

Persons: Hy, he's, Jeff Bezos Organizations: Yale, BlackRock Locations: New York, California

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