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☆ EU will go easy on Indian resale of Russian fuel
  + stars: | 2023-05-23 | by ( Shritama Bose | ) www.reuters.com   time to read: +5 min
Yet, the risk of an energy inflation resurgence makes a European Union ban on Russian oil reselling a tough call. The war in Ukraine has offered India an opportunity to boost purchases of discounted Russian oil. European imports of oil derivatives jumped to 200,000 barrels per day after the EU banned Russian crude products imports on Feb. 5 from 154,000 barrels previously, according to Kpler data. And New Delhi argues oil products substantially transformed in a third country cannot be subject to EU sanctions. loadingTo avoid an open clash with India, the EU could try to target European companies buying Russian-origin refined oil.
☆ A Lego Crime, a YouTube Rivalry, and the End of a Star Wars Friendship
  + stars: | 2023-05-21 | by ( David Kushner | ) www.businessinsider.com   time to read: +30 min
Those who are into Lego Star Wars are among the most popular. It was at an informal contest where Louis met Victor, a fellow Lego Star Wars fanatic. Soon they ranked among the most popular Lego Star Wars YouTubers in France, known for the size and scope of their MOCs. The two friends no longer fit with that satisfying click that comes from snapping together two Lego bricks. Though it must have taken a truck to haul away all of Louis' Lego, no neighbor reported seeing anything suspicious.
☆ AI startup cloud deals by Microsoft, Google and Amazon ring 'accounting alarm bells' across Silicon Valley over revenue 'round-tripping'
  + stars: | 2023-05-19 | by ( Eugene Kim | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +10 min
Some investors question whether these arrangements are artificially juicing cloud revenue growth. When Microsoft announced a multibillion-dollar investment in OpenAI earlier this year, the deal made Azure the ChatGPT-maker's "exclusive cloud provider." There's another deal in the works with similar attributes involving Runway AI and a major cloud company. But they are drawing more scrutiny lately because they could artificially inflate cloud revenue, a key driver of growth for Microsoft, Google, and Amazon, according to Ted Mortonson, managing director of financial-services firm Baird. Is OpenAI a regular cloud customer that is getting no investment money from Microsoft?
☆ Sam Zell, billionaire real estate investor, dies
  + stars: | 2023-05-18 | by ( ) www.cnbc.com   time to read: +4 min
He had a golden touch with real estate, and got his start managing apartment buildings as a college student. His father was a wholesale jeweler who dabbled successfully in real estate investment and the stock market. His first successes in real estate came while he was a student at the University of Michigan. After the savings and loan crisis of the 1980s, Zell went on a buying spree of real estate properties. He also encouraged institutional investors to pool their money for commercial real estate in the early '90s when it was on the outs.
☆ Oil dips on demand worries after unexpected U.S. crude build
  + stars: | 2023-05-17 | by ( Katya Golubkova | ) www.reuters.com   time to read: +2 min
Brent crude futures was 29 cents lower, or down by 0.4%, to $74.60 a barrel. U.S. West Texas Intermediate crude edged down by 32 cents, also 0.4% down, to $70.55, as of 0005 GMT. Right now too much oil is still available," Edward Moya, senior market analyst at OANDA, said in a note. The U.S. Treasury Department has estimated that the United States will go into a crippling default as early as June 1 if Congress does not lift the debt ceiling. Oil prices fell even as the International Energy Agency raised its forecast for global oil demand this year by 200,000 barrels per day (bpd) to a record 102 million bpd.
☆ Target flashes a recession warning: Shoppers are buying fewer clothes and more necessities
  + stars: | 2023-05-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —Shoppers are pulling back at Target, Home Depot and other major chains as they face pressure from higher prices and borrowing costs. But digital sales fell, and the company said shoppers pulled back on discretionary purchases in what CEO Brian Cornell called a “very challenging environment” for consumers. It’s the latest retailer to say shoppers pulled back on items like clothing and home goods and shifted to groceries and necessities. Retail shrink hit $94.5 billion in 2021, a 53% jump from 2019, according to the National Retail Federation’s annual survey of around 60 retail member companies. But the impact of shoplifting on retail losses may have been overstated in some cases.
☆ Furniture flipping earned me $6,000 this year. It's a great side hustle for stay-at-home moms.
  + stars: | 2023-05-17 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +6 min
On top of the $6,000 she's earned so far this year from flipping furniture, she makes money from brand partnerships and products she features on her social-media accounts. I got started flipping furniture eight years agoWhen my son was born, we needed a dresser for him. I find the old furniture on Facebook MarketplaceI started flipping furniture. Once I've saved up enough, I take a break from flipping furniture and do my house project. Ashley BrandfassI've made a little over $6,000 this year from flipping furniture.
☆ Borrell urges EU to crack down on imports of Indian fuels made with Russian oil -FT
  + stars: | 2023-05-16 | by ( ) www.reuters.com   time to read: +2 min
India has emerged in the past year as a top buyer of Russian oil following Moscow's invasion of Ukraine on Feb. 24, 2022. Russia's largest oil producer Rosneft (ROSN.MM) and top Indian refiner Indian Oil Corp (IOC.NS) have also signed a term deal to substantially increase and diversify oil grades delivered to India. According to ship-tracking data from Kpler, Reliance Industries (RELI.NS) and Nayara Energy were the key exporters of refined fuels and buyers of Russian oil. However, that has increased to 200,000 bpd after the EU banned Russian oil products imports from Feb. 5 this year, data from Kpler shows. Any mechanism to stem the flow of Russian oil would need to be implemented by the national authorities, Borrell told the FT, suggesting that the EU could target buyers of Indian refined fuels which it believes are derived from Russian crude.
☆ The future of growth
  + stars: | 2023-05-15 | by ( Sponsor Post | Sponsor Content Ey | ) www.businessinsider.com   time to read: +6 min
But even when there's an economic recession, we invariably find a way to spend ourselves back to growth. New product launches, seasonal fashion, increasing portion sizes and an endless aisle of choice have collectively supported growth in consumer spending. It's become an accepted principle that progress is measured through growth and growth is driven by consumption. These changes are weakening the links between consumption, growth, and success. Today, growth and margin are indicative factors of how well a consumer company has delivered to the needs of the market.
☆ Digital health faces the same hurdle as fintech: Get profitable or get lost.
  + stars: | 2023-05-10 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
Digital health, once the darling of the healthcare industry, is having a tough go of it. After a pandemic-fueled surge when health services and offerings utilizing tech were prioritized, digital health has come back down to earth. The similarities between digital health and fintech are striking. For both fintechs and digital health, this year has served as a reminder that they're only partly tech companies. Click here for predictions from 16 bankers and dealmakers on the future of digital health.
☆ Generation Hustle: Gen Z Is Reshaping Work With More Jobs, Side Hustles
  + stars: | 2023-05-09 | by ( Eve Upton-Clark | ) www.businessinsider.com   time to read: +13 min
In the midst of an uncertain economy and precarious job market, Gen Z is turning up the hustle. According to a 2022 survey commissioned by Microsoft, 48% of Gen Z respondents were juggling multiple side hustles at once. Broken promisesWhile young people often work multiple jobs through college and early in their career, Gen Zers are extending the work hustle into their formal careers. But after watching that dream die for millennials, Gen Z isn't buying into what they view as a broken social contract. "So Gen Z has seen there's other ways to make money, even as a kid, through platforms like YouTube."
☆ I paid a stranger on Facebook $1,545 for tickets to Taylor Swift's 'Eras Tour.' Here's how I avoided getting scammed.
  + stars: | 2023-05-09 | by ( Joni Sweet | ) www.businessinsider.com   time to read: +9 min
But like many Swifties, I never got access to Ticketmaster's disastrous presale for the Eras Tour. I posted on a Taylor Swift ticket-selling Facebook groupI turned to Facebook after I didn't hear back from several sellers on Twitter. Joni SweetMy search for Taylor Swift tickets started on Twitter. I had come across @ErasTourResell, an account which connects hopeful concertgoers with people selling their Eras Tour tickets for face value. I searched for terms like "Taylor Swift resell" and "Eras Tour tickets" and joined a few groups that came up.
☆ 29-year-old who quit the NFL to sell Pokémon cards: How my side hustle became a company bringing in $8.3 million in 9 months
  + stars: | 2023-04-26 | by ( Megan Sauer | ) www.cnbc.com   time to read: +5 min
When Blake Martinez was drafted by the Green Bay Packers in 2016, he didn't foresee leaving the NFL to sell Pokémon cards. Since its launch, Blake's Breaks has brought in more than $8.3 million in revenue, according to documents reviewed by CNBC Make It. Most of them are streamers — people who open and auction items on live streams — hawking everything from Pokémon cards to vintage purses. Selling food and selling Pokémon cards is obviously different, but they both depend on culture. Just last week, I told everyone, "This isn't about making Blake's Breaks money.
☆ A 44-year-old mom of 3 made $735,000 in a year from a reselling business she launched using just the clothes in her closet
  + stars: | 2023-04-24 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +7 min
She earned $735,000 in 2021 selling on social media livestreams and through brand partnerships. Mona Mejia "Everything was selling really quickly"In 2015, Mejia's family was in need of additional income to supplement her husband's pay. When she began listing more items, she noticed that "everything was selling really quickly" and real money was trickling in. Mona Mejia"The more you list, the more money you're going to make." Despite discounting, she says she's able to maintain high levels of profitability by only selling items she bought at especially cheap rates.
☆ This reseller's side hustle started as a way to get his family out of debt. Now he's made over $1.4 million on StockX by working around 10 hours a month.
  + stars: | 2023-04-20 | by ( Danni Santana | ) www.businessinsider.com   time to read: +6 min
Ray Cao began reselling sneakers and apparel at 17 to help get his family out of debt. As a teen, Cao's parents racked up gambling debt and invested in penny stocks that backfired, he told Insider. "What got me into reselling was just being desperate to improve the financial situation for my family," Cao said. Ray CaoReselling on StockX costs more but saves timeA turning point for Cao's business came when StockX asked for a meeting a few years ago. "It's true that you don't make the best money on StockX," Cao said, referring to fees the marketplace charges for orchestrating a sale.
☆ I pulled in nearly $10,000 in revenue last month by marketing to Gen Z about sustainability
  + stars: | 2023-04-19 | by ( Alexandra York | ) www.businessinsider.com   time to read: +5 min
Estella Struck launched Viviene New York, a marketing agency for sustainable brands, in 2021. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Given that success, Struck wanted to make sustainability marketing more accessible to other brands. I believe that your network is your net worth, so I spent a lot of time at networking events meeting people in sustainability, marketing, and social media. I've grown Viviene by attempting to change that up, introduce new social media techniques, and reach consumers outside of the environmental-activist community.
☆ How I transformed my online vintage-clothing side hustle into a bustling brick-and-mortar store in NYC
  + stars: | 2023-04-17 | by ( Alexandra York | ) www.businessinsider.com   time to read: +5 min
Nichole Sesti is the founder of the New York City vintage-clothing store The Niche Shop. Sesti's vintage store opened amid a boom in the secondhand-clothing industry. The Niche Shop booked nearly $400,000 in sales in its first year, according to documents viewed by Insider. The risk of a brick-and-mortar store was worth itThe Niche Shop is located on New York's Upper East Side. Having someone dedicated to shooting, editing, and engaging on social media ensures we're constantly popping up in people's feeds.
☆ I'm a stay-at-home mom reselling clothes on Poshmark. The side hustle gave me financial independence and the opportunity to book a family vacation, which I couldn't do before.
  + stars: | 2023-04-14 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com   time to read: +4 min
Sandra Wyer started selling on Poshmark as a side hustle and turned it into a full-time business. Last year, she began hosting live shows on the app and made $118,967 in annual sales. She told Insider that the live shows have doubled her monthly sales from $10,000 to $20,000. Sandra Wyer started selling on Poshmark as a side hustle. Sandra WyerHosting live shows has doubled my monthly salesI was initially hesitant to start live shows because I have stage fright.
☆ Nike will restock its wildly popular Jordan 1 'Chicago' after the original was featured in 'Air.' The SNKRS app and fans' patience may be tested.
  + stars: | 2023-04-12 | by ( Danni Santana | ) www.businessinsider.com   time to read: +5 min
Nike looks set to re-release the Air Jordan 1 "Lost & Found," next week, according to Complex. But many sneakerheads could not enter a draw for the wider release on the SNKRS app because of app crashes or frozen screens. Most sizes of the original release still go for at least double the $180 retail price on StockX. In the movie, Nike executives present Jordan with his first basketball shoe, the Air Jordan 1 "Chicago," the same colorway as the recent "Lost and Found" release. Nike will undoubtedly hope that the conversation surrounding the "Lost & Found" restock is focused on the sneakers and not any hiccups associated with its SNKRS app.
☆ I sell used sneakers on Goat to pay for new pairs to add to my collection. Here's how to guarantee a sale on the resale platform.
  + stars: | 2023-04-10 | by ( Danni Santana | ) www.businessinsider.com   time to read: +8 min
I've sold shoes in person and on Poshmark, but my favorite platform to sell sneakers is Goat. I have sold shoes in person and on Poshmark over the past year, but my favorite platform to sell sneakers is Goat. The company even authenticates all used shoes, in addition to new, which gives buyers more confidence they are not buying replica pairs. But I'm keeping my options open, especially if StockX begins to allow the sale of used shoes. The platform offers an easy way to sell shoes quickly that you barely wear or have buyer's remorse over.
☆ I took ThredUp's Fashion Footprint quiz. My annual shopping habits equaled driving 614 miles in a gas-powered car.
  + stars: | 2023-04-06 | by ( Catherine Boudreau | ) www.businessinsider.com   time to read: +4 min
ThredUp's Fashion Footprint calculator tallies the climate impact of the clothes we buy. Turns out, the climate impact of my annual shopping habits is still 65% lower than the average customer, at least according to ThredUp's new Fashion Footprint calculator. Resale captured 9% of the US apparel market in 2022, compared with 3% a decade ago, according to ThredUp's latest annual report. Americans spent $1.4 billion on secondhand clothes last year that they normally would have bought new, a 40% jump over 2021. I plugged that into ThredUp's calculator.
☆ Secondhand resale is getting cutthroat as platforms like Depop and Poshmark boom
  + stars: | 2023-03-24 | by ( Rebecca Picciotto | ) www.cnbc.com   time to read: +5 min
Demand for secondhand resale has been booming since the early days of the pandemic, generating a culture shift within the indie marketplaces where it all began. Users on platforms like Depop and Poshmark set up online shops to list vintage, secondhand or unique items for sale and generate notable followings of loyal shoppers. Robertson is now 17 and says the growth of resale has allowed him to turn his Depop shop, which now has over 19,000 followers, into a part-time gig. Blake Robertson, 17, poses with his closet, some of which is up for resale on his Depop shop. Zoom In Icon Arrows pointing outwards Beaux Abington, 49, models some of her own Depop items.
☆ The top 4 sports and sports tech VCs are ready to open their checkbooks. Here's what they're looking for.
  + stars: | 2023-03-23 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +10 min
Courtside Ventures in January closed a $100 million fund, its biggest yet. KB Partners late last year closed a $127 million fund, also its biggest yet. If you're not in one of those lanes, don't bother reaching out, even though the firm has the new $100 million fund to dole out. Parikh expects fewer investments in media companies out of the new fund, but more investments in gaming. It's doling out the money through two accelerator programs and an investment fund.
☆ Shoppers say secondhand stores like Goodwill are getting too expensive as Gen Z makes thrifting cool
  + stars: | 2023-03-21 | by ( Mary Hanbury | ) www.businessinsider.com   time to read: +4 min
TikTokers are complaining about high prices in secondhand stores like Goodwill and Salvation Army. The US thrift market has grown substantially in recent years and thrifting has become a popular pursuit of Gen Z shoppers, who have been credited with championing a more sustainable way to shop. But Gen Z shoppers aren't only buying secondhand items for themselves. That is a dubious delineation when it comes to major secondhand clothing corporations," Jennifer Le Zotte, an assistant professor at the University of North Carolina Wilmington told Vox. 23-year-old Stefani Colvin, who has been thrifting since 2016, told Insider that prices have been gradually on the rise in thrift stores.
☆ Drake is going on tour for the first time in 4 years and fans are outraged at the high prices
  + stars: | 2023-03-18 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +3 min
Tickets were reportedly on sale for as low as $69, but fans say they witnessed prices starting at $200 for upper-level seating. While ticket prices were advertised starting at $69 on Ticketmaster, fans were quick to share videos showing upper-level seats on sale for $200. Other tweets blamed Ticketmaster for the high prices despite Drake's tickets being released on at least one other ticket outlet. "$200+ for nosebleed drake tickets is criminal…. Like Drake and Beyoncé, fans of Taylor Swift have also expressed outrage at difficulty to obtain tickets and high prices to her 2023 Eras tour.
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