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☆ China hits back at Biden's chip restrictions by banning shipments of key materials to the US
▼ + stars: | 2024-12-03 | by ( Robert Scammell | ) www.businessinsider.com time to read: +3 min

AdvertisementChina's Ministry of Commerce said on Tuesday it will halt shipments of key materials to the US. China's Ministry of Commerce said it was responding to fresh US chip export bans, announced Monday. China has retaliated against the Biden administration's semiconductor export controls by banning shipments of key materials to the US, ramping up the global chip war ahead of Donald Trump's second term. AdvertisementThe so-called "dual-use" materials include gallium, germanium, antimony, and superhard materials. AdvertisementChina's retaliation follows President Joe Biden's third wave of sanctions against US companies exporting materials to China's chip industry, announced on Monday.

Persons: Donald Trump's, Joe Biden's, Gina Raimondo, Trump, Logan Paul Organizations: China's, of Commerce, China's Ministry of Commerce, Biden, Geological Survey, Huawei, Semiconductor Manufacturing International Corp, Reuters, The New York Times, Department, Commerce Locations: China, Republic

☆ Fidelity just boosted the value of its stake in Elon Musk's xAI by 70%
▼ + stars: | 2024-12-02 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +4 min

A Fidelity fund has boosted the value of its shares in xAI by 70%, according to filings. The fund also boosted the value of its shares in Musk-owned social media platform X by 32.4%. Fidelity increased the value of its shares in two Elon Musk-owned companies in October, social media platform X and startup xAI, according to filings. Last month, the fund valued its xAI shares at $44,152,362, or $11.96 each. Fidelity also bumped up the value of its X shares to $5,530,358 in October, according to the November filing.

Persons: Elon Musk's xAI, Elon Musk, xAI, Musk, Donald Trump's, Andreessen Horowitz, OpenAI Organizations: Elon, Fidelity, Growth, Qatar Investment Authority, Sequoia Capital, Wall Street Journal, Trump, firm's, Fund Locations: xAI, OpenAI

Learn moreKim Kardashian's shapewear brand, Skims, is one of our favorite places to shop for high-quality basics in a range of inclusive colors and sizes. For all your Cyber Monday shopping needs, be sure to check out our roundup of the best Cyber Monday deals, where we're tracking all the sales. View at SkimsCyber Monday Skims FAQsWhen does the Skims Cyber Monday sale start and end? Skims' Cyber Monday is live now, but the brand hasn't announced when it will end. Check out our roundup of all of the best Cyber Monday deals.

Persons: Kardashian's, Skims hasn't, ”, Olivia Rose Rushing, “, Conz Preti, It’s, There’s, Celia Fernandez Organizations: Business, Skims Locations: Skims

☆ What to put on your holiday gift list before tariffs make them more expensive next year
▼ + stars: | 2024-12-02 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

On the campaign trail, he pledged a 60% tariff on goods imported from China and a 10% to 20% tariff on goods from other countries. But if tariffs do happen, we don’t know, for instance, how long they’ll last and if there will be exclusions. Still, new tariffs could significantly increase consumer prices on nearly everything that isn’t entirely US-made, which isn’t much these days. Here’s what you might want to put on your holiday shopping list now to get ahead of possible tariffs. China accounts for 78% of US total imports, according to a recent analysis commissioned by the Consumer Technology Association report.

Persons: Donald Trump, he’s, Trump, it’s, ”, Scott Lincicome, —, ” Lincicome, Corie Barry, Steve Madden Organizations: New, New York CNN, Cato Institute, Consumer Technology Association, CTA, Apple, National Retail Federation, Trump Locations: New York, Mexico, Canada, China, United States, India

☆ Middle-manager roles disappearing further complicates the ongoing retirement crisis
▼ + stars: | 2024-12-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Corporate America doesn't seem interested in bringing back the middle managers it's spent the past few years kicking out. The big storyMiddle managers' new realityiStock; Rebecca Zisser/BIMissing: Open positions for middle managers. Their strategy includes only keeping the minimum number of staffers needed for departments to function effectively, which might spell more trouble for middle managers. PeopleImages/Getty ImagesIn the meantime, recovering middle managers are left fighting for anything they can get. The downsides of fewer middle managers — burnt-out supervisors, fewer mentors for young employees — are already coming to light.

Persons: we've, doesn't, it's, Rebecca Zisser, Insider's Aki Ito, Data Aki, — Aki, Elon Musk, Vivek Ramaswamy, That's, Aki, —, Michael Raines, Jenny Chang, Rodriguez, isn't, Ross Gerber, Donald Trump, Gerber, Adam Turnquist, LPL, Mario Tama, Musk, Jim Farley, didn't, hadn't, Anuj Shrestha, Roy, Ryan Seiders, Carlos Tavares, Jill Biden, Dan DeFrancesco, Grace Lett, Ella Hopkins, Spriha Srivastava, Jack Sommers, Amanda Yen, Milan Sehmbi Organizations: Business, Revelio, Companies, Department of Government, Rosenberg Research, Elon, Getty, Netflix, EV, National Association of Realtors, Chrysler, Maserati Locations: Tesla, Washington, China, New York, Chicago, London

☆ Roth MKM upgrades Tesla, citing Musk's support for Trump boosting brand enthusiasm
▼ + stars: | 2024-12-02 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Analyst Craig Irwin upgraded Tesla shares to buy and increased his price target on the stock to $380 from $85. Tesla shares are up roughly 42% year to date, marking a massive turnaround since President-elect Donald Trump won the U.S. presidential election and strengthened his ties with Tesla CEO Elon Musk . "Musk's authentic support for Trump likely doubled Tesla's pool of enthusiasts and lifted credibility for a demand inflection. He believes Tesla's domestic EV market share could rise back above 50% in the near term. The company's market share had fallen to 48.2% in the third quarter, he said.

Persons: Tesla, Roth MKM, Craig Irwin, Donald Trump, Elon Musk, Trump, Irwin, Telsa, Joe Biden, Roth, FactSet Organizations: U.S, Trump, Tesla, EV

☆ The hurricanes have passed, but anxiety lingers. 3 Florida homeowners shared what keeps them up at night.
▼ + stars: | 2024-12-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

One resident is afraid of residents abandoning homes after storms if they can't pay to be fixed. AdvertisementHurricanes Helene and Milton have exacerbated concerns about the future of property values and the cost of homeownership in Florida. Three Florida homeowners shared their concerns about the cost of rebuilding after hurricane damage, their home values, and the storms' impact on seasonal residents who are key drivers of the state economy. Hurricane Milton flooded this Florida neighborhood's streets. A coastal resident worries about his home valuePresident Biden listens to remarks from the St. Pete Beach, Florida mayor following Hurricane Milton.

Persons: Helene, Hurricanes Milton, Milton, Kyle Ulrich, Jon, Lyn Drake, Hurricane Milton, it's, Biden, Pete, John Adams, Hurricane Helene, Adams, Adam, snowbirds, Emily White, White, Will, Michael Warren Organizations: Sunshine State, Hurricanes, Intercontinental Exchange, Florida Association of Insurance, Associated, St, Hurricane Milton, Anadolu, Getty, Florida Water Management, FEMA, Associated Press Locations: Milton, Ft . Lauderdale, Miami, West Palm Beach, Jacksonville, Tampa . In Tampa, Florida, Cape, Yankeetown , Florida, Tampa, Gulf of Mexico, Hurricane, Pete Beach , Florida, Anadolu, Yankeetown, Inglis, Ocala, Gulf, Mexico, Ocala , Florida, Arizona

☆ Why Trump’s tariff plans could lead to higher interest rates
▼ + stars: | 2024-12-01 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Fed Chair Jerome Powell said in a recent speech in Dallas that it is still too early to consider how Trump’s tariff plans would affect the US economy. Trump’s tariffs would almost certainly push up prices for imported goods like avocados, cars and tequila. Retaliatory tariffs and consumer perceptionsFed officials will eventually develop economic models of how the US economy could perform under different tariff scenarios. Two potential developments they’ll consider will be whether retaliatory tariffs emerge from Trump’s plans, if enacted, and if Americans believe inflation will pick up. Despite the better outlook on price increases, “consumers overwhelmingly selected higher prices as their top concern and lower prices as their top wish for the new year,” the Conference Board added.

Persons: Donald Trump’s, Jerome Powell, Trump, Claudia Sheinbaum, ”, Stephanie Aliaga, ” Powell, ” Quincy Krosby Organizations: Washington CNN —, Federal Reserve, International Monetary Fund, Trump, Fed, Conference, Board, Asset Management, Treasury, LPL Locations: Dallas, Mexico, Canada, North America

☆ Trump’s tariffs could push up the price of your favorite beer (and tequila)
▼ + stars: | 2024-11-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Some business owners have started stockpiling popular products — specifically tequila, which can be made only in Mexico — and taking other actions to help stave off potential price hikes. At this stage, the tariffs are technically still just talk, with plenty of caveats and scenarios strewn about. Meximodo, a restaurant in Metuchen, New Jersey, holds a Guinness World Records title for its collection of tequila, mezcal and agave spirits. In 2023, the US imported $5.69 billion of beer and $4.81 billion of alcohol from Mexico, according to International Trade Administration data. The Grupo Modelo factory in Mexico City, Mexico, on May 15, 2020.

Persons: CNN —, they’re, Donald Trump, ”, Dave Williams, Bump, Noble, Chris Carey, Williams, “, Meximodo, TJ Pingitore, Le Malt’s, Alexander Lewis, ” Pingitore, ” Saurabh Abrol, Abrol, Hector Vivas, it’s, Chris Swonger, ” Swonger, Swonger, Katie Marisic, Justin Sullivan, Marisic Organizations: CNN, CNN — Beer, Modelo, Bump Williams Consulting, Constellation Brands, Le Malt Hospitality, North, USA, International Trade Administration, Trade Administration, Grupo Modelo, European Union, Brewers Association, Trump, “ Breweries Locations: Canada, Mexico, Corona, Wells Fargo, Mexican, Metuchen , New Jersey, Meximodo, North America, New York, China, United States, Mexico City, American, San Carlos , California

☆ The Container Store could be the next big chain to go bankrupt
▼ + stars: | 2024-11-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

New York CNN —Even the power of Marie Kondo may not be enough to save the Container Store. In 2019 and 2020, the Container Store got a big boost from “Tidying Up,” the hit Netflix show from the home de-cluttering evangelist. Credit rating agencies rank the Container Store as one of the most financially distressed companies in the retail industry. The Container Store had been set to receive a much-needed $40 million financial lifeline from Beyond, the owner of Bed Bath & Beyond and Overstock.com, that would have put Bed Bath & Beyond products on Container Store shelves. “The rise of platforms like Temu have given consumers some much cheaper options for the type of products Container Store sells,” Saunders said.

Persons: Marie Kondo, Kondo, Marie, Melissa Reiff, Joann Fabric, Justin Sullivan, Tim Hynes, ” Neil Saunders, Satish Malhotra, “, ” Saunders, Christina Boni, ”, “ It’s Organizations: New, New York CNN, Netflix, Research, Bed, GlobalData, CNN, Target, Container, ModernRetail, Walmart, Moody’s Locations: New York, Amazon

☆ Is the vibecession about to end?
▼ + stars: | 2024-11-29 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Optimism surged post-2016 election, with small businesses planning to hire more employees. Yes, that's a portmanteau of vibes and expansion, and it's the upbeat version of its better-known cousin, the vibecession. Advertisement"Small business owners lean Republican," said Oliver Allen, a senior US economist at Pantheon Macroeconomics, in a November 12 note. Goldman Sachs"After Donald Trump was elected the 45th President in November 2016, the National Federation of Independent Businesses (NFIB) small business optimism index skyrocketed. "We expect an improving small business operating environment will boost the sentiment and spending of SMBs in 2025 and lift the earnings and valuation of stocks with revenues tied to that spending."

Persons: Kyla Scanlon, National Bureau of Economic Research hasn't, there's, Donald Trump's, Oliver Allen, Goldman Sachs, Donald Trump, David Kostin, they're, Daniel Zhao, Louis, Zhao Organizations: National Bureau of Economic Research, Pantheon, National Federation of Independent Businesses, Chief US, Economics, Workers, Glassdoor, Louis Fed Locations: St

☆ Trump made unprecedented inroads in Silicon Valley this election
▼ + stars: | 2024-11-28 | by ( Rob Price | ) www.businessinsider.com time to read: +4 min

Silicon Valley, long considered a progressive stronghold, has begun to shift toward Donald Trump, according to new voting data analyzed by Business Insider. These numbers show that Trump and Republicans are still a long way off from gaining any real majorities in Silicon Valley. While Elon Musk is based in Texas these days, many of his companies, including Tesla, are still very active in Silicon Valley. Trump, with Musk in support, has promised to cut regulations, which could help Silicon Valley startups grow more quickly. The trend toward Trump in the Silicon Valley electorate mirrors statewide and national trends.

Persons: Donald Trump, Kamala Harris, Harris, Joe Biden, Hilary Clinton, Francisco county's, Trump, Democrat —, Mark Zuckerberg, Marc Andreessen, Ben Horowitz, Horowitz, Elon, Tesla, reelect Trump, JD Vance, Peter Thiel, Ben Narasin, we've, voteshare Organizations: GOP, Business, San, Apple, Google, Nvidia, State, Facebook, Meta, Republican, Trump, Democrat, Democratic, Venture, PayPal, Elon Locations: Santa Clara, San Mateo, San Francisco counties, Silicon, San Francisco Bay, California, San Francisco, San Mateo county, Silicon Valley, Texas, Atherton

☆ Powers: The latest boost of inflation is hopefully a temporary bump.
▼ + stars: | 2024-11-27 | 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 EmailPowers: The latest boost of inflation is hopefully a temporary bump. Matt Powers, Managing Partner at Powers Advisory Group, emphasizes gratitude and staying grounded. He discusses the Fed's expected rate cut and its importance to the market. Powers expects the economy to grow, benefiting small caps, and highlights M&T Bank's strong performance and potential due to fewer regulations and merger activity.

Persons: Matt Powers, Powers Organizations: Powers Advisory

☆ FBI agent accused of multiple rapes was found not guilty of attempted murder 2 years ago
▼ + stars: | 2024-11-26 | by ( Antonio Planas | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Michael-Kosnar-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +4 min

An FBI agent was arrested and charged with multiple counts of sexual assault two years after he was acquitted of attempted murder. Two women allege they were raped inside a tattoo studio, and police say Valdivia may be have additional victims. The woman returned for a second shoot at a nearby hotel and was again sexually assaulted by Valdivia, police said. The FBI Washington Field Office s noaid in a statement the agency is cooperating with Montgomery police in their investigation of Valdivia. Valdivia told the man, “Watch your mouth,” and the man turned around and approached Valdivia, who told him to back up multiple times prior to the shooting.

Persons: Eduardo Valdivia, “ Lalo Brown, ”, Lalo Brown, Valdivia, Nicholas Augustine, Valdivia's, “ Organizations: FBI, Montgomery County Police Department, Police, DC, Washingtonian, Valivida, that's, Detention, FBI Washington Field, Montgomery, Metro, NBC Washington, NBC, “ Locations: Gaithersburg , Maryland, Montgomery, Valdivia, Gaithersburg, Montgomery County, Bethesda , Maryland, NBC Washington

Learn moreThis year's Black Friday sales are shaping up to be particularly noteworthy, and Skims' sale is no exception: for the first time ever the brand is offering a sitewide sale. There's never been a better time to shop Skims than right now when the brand's Black Friday deals are live. We're adding a snug bodysuit and cozy onesie to our carts, but you can find more of the best Black Friday deals on Skims below. View at SkimsBlack Friday Skims FAQsWhen does the Skims Black Friday sale start and end? Black Friday 2024 is the best time to shop at Skims since the brand is offering its first-ever sitewide sale.

Persons: Kim Kardashian, Skims, There's, ”, Olivia Rose Rushing, “, Conz Preti, Celia Fernandez, It’s, There’s Organizations: Business, Skims Locations: Skims

☆ ‘If you mark it down, they will come.’ What to expect from retailers this holiday season
▼ + stars: | 2024-11-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

While economists say this holiday shopping season could ultimately be the most normal one (sales-wise) since before the pandemic, it’s also decked out with plenty of uncertainty. While it would set a new record as well (keep in mind, those figures aren’t adjusted for inflation), this holiday season might be a little more muted than last. A shortened holiday seasonA short shopping season, however, may force the hands of retailers who are looking to hold back on deep promotions. This year, there are 26 days between Thanksgiving and Christmas, marking the shortest holiday shopping season possible. Courtesy Dan MarshallMarshall remains quite optimistic that Mischief will enjoy yet another strong Black Friday, Small Business Saturday and, ultimately, holiday season.

Persons: It’s, it’s, ”, Neil Saunders, “ it’s, Frederic J . Brown, TJ Maxx, Scrooge ‘, Saunders, ” Franklin Bracken, Locker, Bing Guan, ” Bracken, Jeffrey Davidson, “, ” Davidson, Shannon Grein, “ It’s, Seth Wenig, TransUnion, Charlie Wise, TransUnion’s, Wise, Brendan McDermid, Dan Marshall, Marshall, Dan Marshall Marshall, “ We’re, —, they’ll Organizations: CNN, B Department, Jersey Shore, National Retail Federation, GlobalData, Getty, Walmart, Target, Goldman, Global Retailing Conference, Bloomberg, Black, University of Michigan, Reuters, November’s University of Michigan, University of Locations: Jersey, Las Vegas , Nevada, AFP, New York, New Jersey, Wells Fargo, Ramsey , New Jersey, Wells, New York City, Oxford, St, Paul , Minnesota

☆ Elon Musk said the F-35's makers are 'idiots' for still building manned jets as drone tech rises
▼ + stars: | 2024-11-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk criticized the F-35 program on Sunday. The GAO expects the F-35 program to cost about $2 trillion over its entire lifespan. The billionaire reposted a video montage of coordinated drone swarms on X, writing: "Meanwhile, some idiots are still building manned fighter jets like the F-35." Meanwhile, some idiots are still building manned fighter jets like the F-35 🗑️ 🫠pic.twitter.com/4JX27qcxz1 — Elon Musk (@elonmusk) November 24, 2024It's unclear if Musk intends to use his new position to impact any plans or costs for the F-35, the Pentagon's most expensive fighter program to date. AdvertisementMusk has said before that the US should consider remote-piloted alternatives to manned jets, both to keep up with the rise in drone warfare but also to help Air Force procurement stay competitive.

Persons: Elon Musk, Musk's, Trump, Donald Trump, emoji, Musk Organizations: GAO

☆ 'Hamilton' star Anthony Ramos lived in New York City on $420 a week when the show first started: 'I was struggling'
▼ + stars: | 2024-11-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

It's an obstacle Grammy-winning actor, singer and songwriter Anthony Ramos faced during his time in the cast of the hit Broadway musical "Hamilton." Ramos was one of the show's original cast members, playing the dual roles of John Laurens and Phillip Hamilton. "Getting that first paycheck was great because I was getting paid to do something again, to do something I loved, but I was still struggling in New York," Ramos said. However, Ramos soon realized how expenses like taxes and manager and agent fees could quickly chip away at his earnings. "If you're an ensemble member, you're probably making $1,800 a week and then you get taxed on that," he said.

Persons: Anthony Ramos, Hamilton, Ramos, John Laurens, Phillip Hamilton, Vivian Tu, SoFi's Richer Organizations: Broadway Locations: New York

☆ Trump's trade plan could mean higher prices, and avoiding the impact won't be simple
▼ + stars: | 2024-11-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Trump's trade plans could spell trouble for prices, and preparing for it isn't so easy . AdvertisementThe prevailing theory among many economists is Trump's plan will increase prices and inflation as companies pass the cost of the taxes down to their customers. He told BI he views them more as a negotiation tactic with China and American companies with operations there. Still, some experts told BI they foresee obstacles to making it a reality . Sector experts told BI the massive chipmaker will continue to make its most advanced tech in Taiwan .

Persons: Drew Angerer, Tyler Le, Donald Trump's, Emily Stewart, We're, Philip Daniele didn't sugarcoat, John David Rainey, There's, Dominick Reuter, Emily, Trump, Nobel, Simon Johnson, Brian Cornell, Natalie Ammari Baby boomers, Scott Bessent, George Soros, Bluesky, Rose Wang, It's, Chelsea Jia Feng, Taylor Swift, they'll, crosshairs, Elon Musk, Vivek Ramaswamy's, Biden, Alex Jones, Menendez, Dan DeFrancesco, Grace Lett, Lisa Ryan, Ella Hopkins, Amanda Yen, Jack Sommers, Milan Sehmbi Organizations: Business, Getty, Walmart, Electronics, Target, Social Security, Treasury, Trump, Nvidia, White, Los Locations: China, Phoenix, Taiwan, Florida, Washington, Los Angeles, New York, Chicago, London

Budgeted salary increases for 2025 across Southeast Asia are expected to be higher than in 2024, according to a new report. As the end of the year approaches, the budgeted salary increases for 2025 across Southeast Asia are projected to be higher than in 2024, according to a November report by professional services firm Aon. For example, Southeast Asia has been "a sandbox environment for a lot of technology companies, i.e. in Singapore, to be setting up shop, so it is attracting capital... and then that creates a demand for talent to serve this growth," Chawla said. Here's how much salary budgets are projected to increase in 2025 across six Southeast Asian countries, according to Aon.

Persons: Rahul Chawla, Chawla, It's, Cheng Wan Hua Organizations: Global, Management, CNBC Locations: Southeast Asia, Aon, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Asia

☆ Inflation will keep falling next year despite fears of prices spiking under Trump, veteran economist Steve Hanke says
▼ + stars: | 2024-11-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

AdvertisementTop economist Steve Hanke said that it's "nonsense" to think Trump's policies will spur inflation. Instead, inflation will depend on the Fed and the money supply, which has contracted since 2022. Advertisement"All this talk about Trump's policies are going to cause inflation to kick up again is just nonsense," the top economist said. "It depends on what the Fed is doing and what the monetary policy picture looks like with the money supply." Bessent has suggested ways to spread out any inflationary impact from Trump's trade policies.

Persons: Steve Hanke, Donald Trump's, Hanke, Trump's, Scott Bessent, Bessent Organizations: Fed, CNBC, Federal Reserve, NYSE, Trump

☆ Analysts see Apple AI efforts boosting sales for a business you might not expect
▼ + stars: | 2024-11-25 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The results showed that 78% of prospective buyers of AI-enabled iPhones would pay a monthly subscription to get unlimited access to Apple Intelligence features. Similar to Morgan Stanley, the Melius analysts pointed to the delayed release of Apple Intelligence. Similar to Morgan Stanley and Melius, we see Apple's iPhone upgrade cycle as a story in the coming quarters, rather than right now. Don't trade Apple." With the delayed rollout of Apple Intelligence, it's clear to us that users may take longer to switch up to newer models.

Persons: Morgan Stanley, iPhones, gamed, Said, Melius, Jim Cramer, Morgan Stanley's, Jim, It's, Apple's, Donald Trump's, Jim Cramer's Organizations: Apple Intelligence, Huawei, Apple, Research, Management, CNBC, Nurphoto, Getty Locations: China, India, Manhattan , New York

☆ In forgotten parts of Singapore's iconic Orchard Road shopping street, a new era is taking shape
▼ + stars: | 2024-11-22 | by ( Kevin Lim | ) www.cnbc.com time to read: +6 min

The Far East Shopping Center on Orchard Road in Singapore, on Thursday, April 11, 2024. Bloomberg | Bloomberg | Getty ImagesThe Far East Shopping Center along Singapore's Orchard Road has seen better days. Orchard Road, Singapore's main shopping street, is 2.2 km (1.3 miles) long but much of the activity takes place in the middle of the stretch as well as at selected malls linked via underground walkways to subway stations. Far East Shopping Center isn't connected to Orchard MRT unlike several of its neighbors. Two of the properties, the voco Orchard hotel and Forum The Shopping Mall, share some 180 meters of frontage along Orchard Road.

Persons: Ong Beng Seng, hasn't, CDL, Singapore's URA, URA, Richard Goh, Rasa Singapura, Sukanto Tanoto, Du Shuanghua, Jeremy Lake Organizations: Shopping, Bloomberg, Getty, Shopping Center, Singapore Botanic Gardens, Urban Redevelopment, Properties, Singapore, Developments, CDL Hospitality, Arts, CNBC, Singapore Botanic, Pacific Eagle, Food, Savills Singapore, Concorde Locations: Orchard, Singapore, Delfi Orchard, Istana Park, Canning, HPL

☆ Red Lobster's millennial CEO says the chain saw a boost in sales after launching its revamped menu — with no endless shrimp
▼ + stars: | 2024-11-22 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

AdvertisementRed Lobster recently introduced a revamped menu with no "endless shrimp." Red Lobster's new CEO said the chain's revamped menu — which no longer includes its infamous "endless shrimp" promotion — has already started to help turn things around at the struggling company. In 2023, the long-running chain made the once-limited-time offer of $20 endless shrimp a permanent menu fixture in an effort to get more customers in the door. Advertisement"Countless people grew up going to Red Lobster at important times in their lives," Adamolekun told the outlet. Advertisement"There's been so much turmoil around the business that some people just opted out," Adamolekun told Bloomberg.

Persons: Red, —, Damola Adamolekun, Adamolekun, hadn't Organizations: Bloomberg, Street Journal

☆ 82% of workers who asked for a raise in the last year got one, says new report
▼ + stars: | 2024-11-22 | by ( Jennifer Liu | ) www.cnbc.com time to read: +1 min

A majority of full-time workers, 66%, got a raise in the last year whether they asked for one or not, according to an October survey of 2,049 people from LendingTree. And not everyone is asking for a raise at equal rates: Just 35% of women discussed getting a raise, compared with 49% of men, according to LendingTree data. By age range, Gen Z and millennial workers (ages 18 to 43) are most comfortable negotiating for a pay increase. However, the second most-common reason people took a pay cut, at 17%, was in order to take another job with less stress. Roughly one-third of people who experienced a pay cut in the last year saw their salary drop by less than $5,000.

Persons: Z Locations: LendingTree

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