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☆ Tech companies to sign agreement with UK government to tackle online fraud
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 30 (Reuters) - Eleven of the world's biggest tech companies, including Amazon.com (AMZN.O), Alphabet's (GOOGL.O) Google and Microsoft (MSFT.O), will sign an agreement with the British government on Thursday to step up their efforts to tackle online fraud, the interior ministry said. Under the "Online Fraud Charter," due to be signed at a meeting chaired by Interior Minister James Cleverly in London, the companies pledge to take further action to block and remove fraudulent content from their sites, the government said. "Fraud is now the most common crime in the UK, with online scammers targeting the most vulnerable in society," British Prime Minister Rishi Sunak said in a statement. "By joining forces with these tech giants we will continue to crack down on fraudsters, making sure they have nowhere to hide online." The British government says fraud accounts for around 40% of all crime in England and Wales, with data from industry body UK Finance showing almost 80% of all authorised push payment fraud originates online.

Persons: Dado Ruvic, James, ByteDance's, Rishi Sunak, Kylie MacLellan, Matthew Lewis Organizations: REUTERS, Google, Microsoft, Interior, eBay, Facebook, YouTube, Finance, Thomson Locations: London, England, Wales

☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

☆ It sure looks like Mark Cuban is walking away from everything that made him Mark Cuban
▼ + stars: | 2023-11-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Billionaire Mark Cuban made a name for himself as a businessman and media personality. So it could well be the end of an era for the Mark Cuban that we've come to know. AdvertisementBillionaire Mark Cuban is many things — a serial entrepreneur who has dabbled in tech and pharmaceuticals, a reality TV star, and the longtime owner of the Dallas Mavericks. But if recent reports are anything to go by, that could soon be the Mark Cuban of yesterday, as he sheds parts of his portfolio emblematic of his public persona. This may very well be the end of an era for the "Shark Tank"-starring, Mavericks-owning Mark Cuban we've all come to know.

Persons: Mark Cuban, he's, —, Cuban, Adelson, He's, Henry Ross Perot, Joe Biden, Donald Trump, Tiffany Stewart — Alexis, Alyssa, Jake, all's Organizations: Dallas Mavericks, ESPN, Cuban, Service, Associated Press, Mavericks, Twitter, NBC, Republican, Hollywood, Cuban's Dallas Mavericks, Business Insider Locations: Cuban

[1/2] People watch drones creating a 3-D display outside the United Nations Headquarters calling attention to the Amazon rainforest and climate change in New York U.S., September 15, 2023. The analysis by the nonprofit Amazon Conservation's MAAP forest monitoring program offers a first look at 2023 deforestation across the nine Amazon countries. That estimate is likely low as there are some holes in the data, Finer said. Brazil's Lula has led a push among its Amazonian neighbors and other rainforest countries to get rich nations to pay for woodland conservation. While the country is battling massive wildfires, many of them are not in the Amazon, Finer said.

Persons: Eduardo Munoz, Matt, Luiz Inacio Lula da Silva, Jair Bolsonaro, Carlos Nobre, Nobre, Brazil's Lula, Gustavo Petro, Jake Spring, David Gregorio Our Organizations: United Nations Headquarters, New York U.S, REUTERS, SAO PAULO, Reuters, United, University of Sao, Amazon, NASA, Union, Democratic, Watch, Thomson Locations: New York, Brazil, Colombia, Peru, Bolivia, United Nations, Jan, Puerto Rico, University of Sao Paulo, Amazon, Guyana, Suriname, Venezuela, COLOMBIA, PERU Brazil, Democratic Republic of Congo

PARIS (AP) — The mayor of future Olympic host city Paris says she is quitting X, accusing Elon Musk 's platform previously known as Twitter of spreading disinformation and hatred and of becoming a “gigantic global sewer” that is toxic for democracy and constructive debate. Political Cartoons View All 1265 ImagesHer office said that Paris City Hall is keeping its own separate account on X.Hidalgo's withdrawal from X follows a fractious period for the mayor. Hidalgo said some transport options won't be ready for the July 26-Aug. 11 Olympics. Hidalgo's office said her decision to leave X was not in response to the recent criticism but was thought-out over time. “This medium has become a gigantic global sewer, and we should continue to wade into it?”___Follow AP's coverage of the Paris Olympics: https://apnews.com/hub/2024-paris-olympic-games

Persons: Elon Musk, Anne Hidalgo, ”, X, Hidalgo, Clement Beaune, Musk, ” Hidalgo Organizations: PARIS, Olympic, Twitter, Associated, Socialist, Paris City Hall, Transport, Paris Locations: Paris, Pacific, New Caledonia, Tahiti, paris

Learn moreCyber Monday deals have come early, and the Dyson Airwrap is $120 off. This is the best Cyber Monday Dyson Airwrap deal we've ever seen. As a 3-in-1 hair appliance, it functioned as the best hair dryer, flat iron, and curling iron all in one. Is the Dyson Airwrap worth it? Once you've found your favorite combination of attachments, the Dyson Airwrap proves itself over and over.

Persons: Dyson, we've, frizz, Colleen Sullivan, Jenna Perry, Bella Hadid, she's, Perry, you've Locations: Dua Lipa

☆ Iron ore gains on China’s property debt-rejig pain
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

A steel worker of ThyssenKrupp stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, January 30, 2020. The benchmark December iron ore futures contract on the Singapore Exchange is up 10% this month at $133.45 a ton on hopes Beijing will kickstart the property sector. Anticipating spiking demand from the world’s second largest economy, Citi analysts on Tuesday upgraded their forecast iron ore price to $140 per ton. The optimism on iron ore could further grow if Beijing rolls out more structural reforms, such as the provision of social housing. China’s demand for steel in electric vehicles and green infrastructure has already kept average prices high despite the property slump.

Persons: Wolfgang Rattay, Chan Ka, Una Galani, Thomas Shum Organizations: REUTERS, Reuters, Singapore Exchange, Citi, Hong Kong, HK, X, Thomson Locations: ThyssenKrupp, Duisburg, Germany, HONG KONG, China, Beijing, HK, Rome

Learn moreBlack Friday is here and we have good news: the Dyson Airwrap is $120 off, which is the best Black Friday Dyson Airwrap deal we've ever seen. Hair experts and novices alike agree that the Dyson Airwrap is a game-changer because it both dries and styles your hair at the same time. After our testing, we named the Dyson Airwrap as the best hair dryer for fighting frizz — but "hair dryer" might be a bit of a misnomer since it also effectively functions as a curling iron. Is the Dyson Airwrap worth it? Once you've found your favorite combination of attachments, the Dyson Airwrap proves itself over and over.

Persons: Dyson, we've, frizz, it's, We've, Colleen Sullivan, Jenna Perry, Bella Hadid, she's, Perry, you've Organizations: Black Locations: Dua Lipa

Now they say they have nowhere to hide from intense flooding as rainfall exacerbated by the weather phenomenon El Nino pummels large parts of Somalia. Somalia's federal government declared a state of emergency in October after extreme weather exacerbated by El Nino destroyed homes, roads and bridges. Scientists believe climate change is making El Nino stronger. Hakima said her family may be safe from flooding in their camp, but they are hungry and desperate for warm shelter. At least 53 people have been confirmed killed by flooding across Somalia, said Hassan Issee, who manages emergency operations at the Somalia Disaster Management Agency.

Persons: Nino, Hakima Mohamud, “, El Nino, El, Beledweyne, Hakima, ”, Mukhtar Moalim, Hassan Issee, Hamza Abdi Barre Organizations: El Nino, Information Management, Somalia Disaster Management Agency Locations: MOGADISHU, Somalia, Ethiopia, Beledweyne, Shabab, Somali, Kutiimo, Horn of Africa, Kenya, Hiran, Mogadishu, Dollow, Gedo, Africa, africa

☆ Carlyle’s Big Mac China dish is hard to match
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Nov 22 (Reuters Breakingviews) - Carlyle (CG.O) may be lagging its peers in the United States. But in China, at least, the buyout firm is finishing a meal that will be hard for others to find. That’s less than the private equity outfit run by Harvey Schwartz was hoping for, but is tasty enough. Given geopolitical tensions and China’s weak economic growth, Carlyle has done well to secure a hassle-free exit. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Carlyle, repurchasing, Harvey Schwartz, ByteDance, Jack Ma’s Ant, Antony Currie, Thomas Shum Organizations: Reuters, HK, X, Walmart, Thomson Locations: SINGAPORE, United States, China, People’s Republic, Hong Kong, Macau, McDonald’s, Rome

☆ Panasonic’s auto deal deserves a speedy sequel
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File Photo Acquire Licensing RightsHONG KONG, Nov 22 (Reuters Breakingviews) - Panasonic’s (6752.T)decision to sell part of its automotive unit suggests CEO Yuki Kusumi’s plans are taking a promising turn. The business, which pioneers technology like infotainment systems for the next generation of internet-connected cars, is a growing but capital-intensive opportunity. Selling a stake to Apollo Global Management (APO.N), with the possibility of a listing later, could help fund faster development without denting Panasonic’s balance sheet or returns. This was an obvious target for Kusumi, who previously led the auto unit. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Toru Hanai, Yuki Kusumi’s, Panasonic’s, it’s, Katrina Hamlin, Francesco Guerrera, Thomas Shum Organizations: Panasonic Corp, Advanced Technologies, Makuhari, REUTERS, Reuters, Apollo Global Management, Sony, Hitachi, Panasonic, X, Walmart, Thomson Locations: JAPAN, Chiba, Japan, HONG KONG, Asia, Rome

People still flock to Dealey Plaza, which the presidential motorcade was passing through when Kennedy was killed. “I was just with a great mass of other reporters, just trying to find any bit of information,” she said. “As an AP reporter, you just go for the phone, you can’t process anything at that point,” she said. Simpson's recollections are included in an oral history collection at the Sixth Floor Museum that now includes about 2,500 recordings, according to Fagin. Many of the more recent ones have been with people who were children in the '60s and remembered hearing about the assassination while at school.

Persons: —, John F, Kennedy, Peggy Simpson, “, ” Simpson, ”, Stephen Fagin, Lee Harvey, Simpson, Clint Hill, Ella Wright, ” Wright, Fagin, Lee Harvey Oswald, Oswald, Jack Ruby, Ruby, didn’t, ” Fagin Organizations: DALLAS, Associated Press, Dealey Plaza, Texas, . Secret, National Geographic, The Dallas Times, AP, Sixth, Museum Locations: Dallas, “ JFK, America, Austin, Dealey

☆ Monte Paschi rebirth is vindication for Rome
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS / Jennifer Lorenzini Acquire Licensing RightsMILAN, Nov 21 (Reuters Breakingviews) - Italy’s privatisation of bailed-out lender Banca Monte dei Paschi di Siena (BMPS.MI) may finally be on the right track. The sale price was nearly 50% higher than last year’s high-stakes 2.5 billion euro capital increase, which cost taxpayers 1.6 billion euros. Rome took advantage of a near-30% rally in Monte Paschi’s shares during the month leading up to the sale. Granted, Rome will never recoup the around 5.4 billion euros it burnt to save Monte Paschi in 2017. Two years ago, interest rates were low and Monte Paschi's recovery seemed a distant prospect.

Persons: Jennifer Lorenzini, Siena, Monte Paschi, Andrea Orcel, Lisa Jucca, Banks, Liam Proud, Streisand Neto Organizations: REUTERS, Reuters, Banca Monte dei, Treasury, X, Walmart, Thomson Locations: Monte dei, Siena, Italy, Rome, Monte Paschi’s, Monte

Cher, “Christmas”Political Cartoons View All 1260 ImagesSomehow, “Christmas" is Cher's first holiday album — not that she hasn't been asked to do one in the past. “I didn’t know how I was going to make it a ‘Cher Christmas album.’” The secret, it turns out, was to get a bunch of A-list collaborators on her album, something she's never done before. Brandy, “Christmas with Brandy”For those looking for a seductive holiday album: the search is over. Like on “Christmas Gift,” which features her daughter Sy’Rai, and “Feels Different.”Elsewhere, Brandy offers a PG-13 holiday special. Humor abounds, like in the pop-rocking comedic additions of “You Made Me Believe in Christmas,” “Feels Like Christmas,” “Mean Christmas."

Persons: Maria Sherman, Ella Fitzgerald, “ Ella, hasn't, “, ”, she's, There’s Cyndi Lauper, ” Stevie Wonder, ” Darlene Love, ” Michael Bublé, Tyga, Brandy ”, Brandy, Sy’Rai, I’m askin, Andrea, Matteo, Virginia Bocelli, Andrea Bocelli, ” Andrea, Virginia, ’ Natale, levity —, David Foster, Katharine McPhee, Grace, Foster, Luther Vandross, “ Luther Vandross, ” “, Ally Brooke, Brooke Organizations: ANGELES, Associated Press, AP, Party, Chicago, Tabernacle Choir, Fifth Harmony Locations: Chicago, Italian, “

☆ Execs of color at TikTok and Snapchat open up about the influencer pay gap and how they're trying to level the playing field for creators from diverse backgrounds
▼ + stars: | 2023-11-21 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +8 min

Today, Girma is TikTok's Black creator community development manager, leading # BlackTikTok , a virtual space on the social-media platform that amplifies the voices and content of Black creators. To address this, platforms from Meta to TikTok have introduced various programs over the years that intentionally center nonwhite communities. BI spoke with executives at TikTok and Snapchat who lead the initiatives short-form content creators say have been the most helpful to them. These programs offer tailored knowledge, connections, and funding for diverse creators like Gabrielle Cerberville, who has 1.1 million followers on TikTok . "Discrimination is baked into TikTok's algorithm because it centers on whiteness, so programs like CasaTikTok help normalize content by creators of color," Cerberville said.

Persons: Alexzi Girma, Girma, she's, execs, they've, Jessica Ufuoma, who's, Janice Gassam Asare, Snapchat, Gabrielle Cerberville, Kayla Zapata Fory, Fory, Varshini Shah, Francis Roberts, Roberts, Shah, that's, I've, AJ, Brooke Berry, Cerberville, Colin Rocker, Gen Z, BlackTikTok, He's, you'll Organizations: Business, Influencer Locations: Meta, CasaTikTok

☆ Banks may resist China’s push to help developers
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stringer Acquire Licensing RightsSINGAPORE, Nov 21 (Reuters Breakingviews) - Beijing is giving Chinese banks another nudge to persuade them to play the property white knight. Regulators including the People’s Bank of China are drafting a “whitelist” of 50 property developers, including state-backed China Vanke (000002.SZ) and fully private ones like Seazen (1030.HK) and Longfor (0960.HK), Bloomberg reported citing unnamed sources. More importantly, barring specific lending targets, banks are likely to remain in wait-and-see mode because they fear getting stuck with a mountain of bad loans. Last December, Chinese banks pledged new credit lines worth around 3 trillion yuan ($424 billion) to a dozen developers deemed worth saving, following a similar effort by Beijing. But at a time when China’s outstanding property loans are contracting, such vaguely worded guidance loses relevance.

Persons: Stringer, Yawen Chen, Francesco Guerrera, Thomas Shum Organizations: REUTERS, Rights, Reuters, Regulators, People’s Bank of China, HK, Bloomberg, X, Walmart, Thomson Locations: Dalian, Liaoning province, China, Rights SINGAPORE, Beijing

The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. If current gains hold, shares will have nearly doubled since late July after the former Mattel (MAT.O) executive was appointed to revive the once sought-after brand. Gap's third-quarter earnings release Thursday showed significant inventory destocking, even as its holiday-season forecast disappointed. However, Gap joined other retailers in sounding a cautious note on spending, heading into the all-important shopping season. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Meyssonnier, Richard Dickson, Dickson, David Swartz, Swartz, Katrina O'Connell, Gap, Ananya Mariam Rajesh, Shinjini Ganguli Organizations: REUTERS, Mattel, Gap's Old Navy, Morningstar, Navy, Walmart, Banana Republic, Thomson Locations: Paris, France, Bengaluru

☆ Gap shares soar on Old Navy brand renewal, controlled inventory
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Comparable sales at Old Navy rose 1% in the third quarter, the first increase in 10 quarters. "Old Navy gained market share, an encouraging early proof point that work to improve both product assortment and brand messaging" were driving results, Gap Chief Financial Officer Katrina O'Connell said on Thursday following the earnings. Gap's struggles with outdated inventory at its namesake brand and Old Navy had pushed customers to look for newer and fresher styles at rivals like Shein and Amazon.com (AMZN.O). Jefferies analysts said new CEO Richard Dickson's prior experience in reinvigorating brands like Barbie at Mattel (MAT.O) could bring a lift to the Old Navy banner. The apparel maker's executives also alluded to a "longer recovery" time for Banana Republic and Athleta, which has seen "product misfires" and weak "retail execution".

Persons: Sarah Meyssonnier, Katrina O'Connell, Richard Dickson's, Barbie, Ananya Mariam Rajesh, Sriraj Organizations: REUTERS, Old Navy, Walmart, Advisory, Navy, Jefferies, Mattel, Banana Republic, Thomson Locations: Paris, France, trendier, encouragingly, Bengaluru

NEW YORK (AP) — The visceral documentary “20 Days in Mariupol,” about Russia's early assault on the Ukrainian city, will soon reach its widest audience yet. After screenings in dozens of cities, “20 Days in Mariupol” will air on PBS stations in the U.S. beginning Tuesday. WHERE CAN I WATCH ‘20 DAYS IN MARIUPOL’? WHAT ARE CRITICS SAYING ABOUT ‘20 DAYS IN MARIUPOL’? Chernov and the AP team could only send limited footage and dispatches during their 20 days in Mariupol.

Persons: Mstyslav Chernov, Evgeniy Maloletka, Vasilisa Stepanenko, “, Chernov, Jason Farago, ”, “ It’s, Michelle Mizner, —, Lori Hinnant Organizations: The Associated Press, PBS, Sundance Film, wgbh, Rotten, New York Times, Hollywood Reporter, AP Locations: Mariupol, Ukrainian, U.S, Ukraine, russia, ukraine

☆ After Gap's Friday run, Cramer is more hopeful about the retail sector
▼ + stars: | 2023-11-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday suggested big name retail stocks may be coming out of a slump following Gap 's Friday earnings beat, which sent the stock surging more than 30%. Cramer said he knows it's been difficult for even household names to see gains this year outside of tech outfits like Apple , Alphabet and Amazon . "This year, that's been very hard to do, but that may be changing after these terrific retail quarters." Cramer conceded that investors have valid concerns about retail stocks: Consumers are still feeling the sting of inflation and high interest rates, and some may have less disposable income now that the pause on student loan payments has ended. He said he saw these factors as obstacles for most in the industry, but suggested circumstances may be changing after these solid retail quarters.

Persons: CNBC's Jim Cramer, Cramer, it's, Wednesday's, that's Organizations: Target

☆ Gap's new CEO thinks he can make Banana Republic a 'quiet luxury' destination
▼ + stars: | 2023-11-17 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

He wants to turn Banana Republic into a quiet luxury brand. AdvertisementGap's new CEO wants to transform its Banana Republic brand into the next destination for quiet luxury. Dickson's plan to reverse this downward trend includes turning Banana Republic into a quiet luxury brand by elevating its aesthetic and product offerings. "We think Banana Republic has an opportunity to thrive in the quiet luxury space," Dickson said. Quiet luxury clothing and accessories are devoid of logos or prominent branding and typically come in neutral or muted colors.

Persons: Richard Dickson, —, Dickson, Loro Piana Organizations: Service, Republic, Mattel, Navy, Inc, Banana Republic Locations: Banana, Banana Republic

☆ Gap's closet cleanup begins to pay off
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid Acquire Licensing RightsTORONTO, Nov 17 (Reuters Breakingviews) - Gap’s (GPS.N) new CEO is embarking on a closet cleanup. Shares in the U.S. apparel company leapt over 30% on Friday morning, a day after it unveiled third-quarter results. That reaction looks overdone, considering how overall net sales of $3.8 billion are still down 7% compared to last year, and earnings fell year-on-year. Same-store sales at sub-brand Old Navy for the quarter were up 1% year-on-year, the first quarterly increase in over two years. The company might even use that tailwind to revive its scrapped plans to separate Old Navy into a stand-alone company.

Persons: Brendan McDermid, That’s, Richard Dickson, Barbie, Sharon Lam, John Foley, Aditya Sriwatsav Organizations: REUTERS, Rights TORONTO, Reuters, Navy, Mattel, Banana Republic, X, Walmart, Thomson Locations: midtown Manhattan, New York, U.S, China

☆ Flamenco cradle Seville hosts historic Latin Grammy awards
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] Shakira poses with the Song Of The Year, Best Pop Song and Best Urban/Fusion Performance Awards at the 24th Annual Latin Grammy Awards in Seville, Spain, November 17, 2023. Seville is the cradle of flamenco, a fiery music genre that has influenced generations of artists around the world. Latin American female performers swept most of the top awards in at Thursday's late-night gala. "Seville is the birthplace of flamenco. Reporting by Mariano Valladolid, Elena Rodriguez; writing by Andrei Khalip; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Shakira, Jon Nazca, Argentine DJ Bizarrap, DJ Bizarrap's, Colombia's Karol G, Rosalia of Spain, Omar Montes, Mariano Valladolid, Elena Rodriguez, Andrei Khalip, Jonathan Oatis Organizations: REUTERS, Argentine DJ, Reuters, Thomson Locations: Seville, Spain, SEVILLE, Argentine, Spanish, United States, American, Thursday's

☆ Gap shares soar on sales, earnings beat despite muted holiday forecast against uncertain backdrop
▼ + stars: | 2023-11-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Gap hasn't managed to reverse its ongoing revenue slump, but its same-store sales were far better than expected. Gap saw modest improvements at Old Navy and its eponymous banner. The brand saw strength in women's and kids, and an uptick in activewear. The brand is still reeling from the shutdown of Yeezy Gap and saw comparable sales decline 1%. Banana Republic: Sales at Banana, known for its workwear and going out pieces, fell 11% compared to last year to $460 million.

Persons: Richard Dickson, Dickson, I'm, we've, Katrina O'Connell Organizations: LSEG, Old Navy, Banana Republic, Mattel, CNBC, Navy Locations: Banana, activewear, Gap

Thursday's early calls featured a retail upgrade and an EV charging stock downgrade. The analyst reiterated his buy rating and $450 price target on the stock. Microsoft's AI cybersecurity solution Security Copilot, which was only recently expanded through an early access program on Oct. 19, already has tons of pent-up interest, Thill said. The firm downgraded shares from neutral to underperform and lowered its price target on the stock by $17 to $43. He gave the stock a $50 price target — $13 higher from the previous one — which implies 23.1% upside for shares since Wednesday's close.

Persons: Wells Fargo, Goldman Sachs, Kash Rangan, Rangan, Maia, Brent Thill, Thill, Vivek Arya, Arya, Raimo, Microsoft's, — Pia Singh, Elizabeth Suzuki, Vijay Rakesh, Rakesh, Vikram Bagri, Bagri, Fred Imbert, Edward Kelly, Kelly Organizations: CNBC, Citi, Microsoft's Ignite, Jefferies, Microsoft, Bank of America, Nvidia, Devices, Barclays, Advance, AAP, Mizuho, Intel, Mizuho Securities, Foundry, Foundry Services, Sapphire, Sierra, AMD, Wells Locations: Seattle, U.S, Wells Fargo, Wednesday's

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