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These distinct designer brands all have something in common: a single parent company named Tapestry, Inc. That parent company has been getting bigger and bigger throughout 2023. "Growth-oriented acquisitions really help to drive the business further, " said Dana Telsey, CEO of Telsey Advisory Group. "New designers can create interest because you can extend your customer base, whether it's extending your customer base older or younger, or extend your customer base globally." The popularity of online shopping has also provoked retailers to pursue mergers that promote expansion online and in stores. As social media creates new avenues for promotion, brands grappling with the high cost of celebrity endorsements are looking to expand their resources through mergers and acquisitions.
Persons: Jimmy Choo, Versace, Michael Kors, Kate Spade, Dana Telsey Organizations: Telsey Advisory Locations: Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe 'urban doom loop' threatening American cities like New York and San Francisco, explainedMajor American cities such as New York and San Francisco face serious problems — mass migration, empty offices and declining tax revenues. Watch the video above to learn more about the so-called 'urban doom loop' threatening American cities, and what local governments can do to avoid falling further into fiscal trouble.
Locations: New York, San Francisco
MGM and Caesars hit with massive cyber attack
  + stars: | 2023-09-15 | by ( Kate Sammer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMGM and Caesars hit with massive cyber attackTwo major Las Vegas casinos were overcome by ransomware attacks attributed to the cybercriminal group, Scattered Spider. Computer systems at MGM were shut down, freezing slots machines, ATMs, elevators, and hotel technology. In response to the MGM hack, Caesars Entertainment reported paying $15 million in ransom after a similar Sep. 7th attack on its systems. Scattered Spider has claimed to have stolen over six terabytes of data from the two attacks.
Organizations: MGM, Caesars, Caesars Entertainment
Catastrophic flooding in Libya leaves thousands dead
  + stars: | 2023-09-14 | by ( Kate Sammer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCatastrophic flooding in Libya leaves thousands deadMassive rainfall from Mediterranean storm Daniel inundated parts of eastern Libya causing widespread destruction in the North African nation. The surging rain caused two dams to fail, sending 23-foot waves of water through the port city of Derna. International rescue efforts are underway as thousands are missing and at least 8,000 are feared dead according to Libyan officials.
Locations: Libya, North, Derna
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple announces iPhone 15 lineup and Series 9 Watch at September product launch eventApple unveiled its latest product offering at Tuesday's launch event. The launch highlighted new features and updated designs, including the iPhone 15's USB-C charging port, and touch-free functionality on the Series 9 Watch.
Organizations: Apple
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer President Donald Trump booked on charges in Georgia over election caseFormer President Donald Trump surrendered to authorities in Georgia at the Fulton County jail. After the booking, the former president was released on a $200,000 bond.
Persons: Donald Trump Locations: Georgia, Fulton
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to handle the home insurance exodus underway in California and FloridaAs natural disasters become more frequent and severe, insurance providers who underwrite catastrophic losses are increasing premiums and leaving entire states. In the last 18 months, over a dozen insurance companies have stopped selling home insurance in Florida. Across California, major insurers like State Farm and All-State have pulled out of the home insurance market. Watch the video above to learn where homeowners can find insurance on the public market and how mitigation credits can combat costly premiums.
Locations: California, Florida
Fmr. Thai prime minister jailed after 15 years in exile
  + stars: | 2023-08-22 | by ( Kate Sammer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Thai prime minister jailed after 15 years in exileFollowing his return from exile, Thailand's former prime minister, Thaksin Shinawatra, was arrested in Bangkok on Tuesday.
Persons: Thaksin Shinawatra Locations: Bangkok
Italy braces for another European heatwave
  + stars: | 2023-08-21 | by ( Kate Sammer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailItaly braces for another European heatwaveTemperatures in Italy are forecasted to be in the hundreds for the next five days as a heatwave of high humidity passes through Europe.
Locations: Italy, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump faces 13-count indictment from Georgia grand jury for alleged 2020 election interferenceFulton County District Attorney Fani Willis announces a 41-count indictment against former President Donald Trump and 18 of his allies. The defendants were charged for their engagement in a criminal racketeering enterprise aimed at overturn the 2020 presidential election in Georgia.
Persons: Fani Willis, Donald Trump Organizations: Trump, Fulton Locations: Georgia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUkraine removes Soviet symbols from Motherland Monument in KyivOn the largest monument in Ukraine's capital city of Kyiv, a Soviet-era hammer and sickle has been replaced with a Ukrainian coat of arms.
Organizations: Ukraine Locations: Kyiv, Ukraine's, Soviet, Ukrainian
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlooding threatens Vermont's capital as crews rescue more than 100 peopleCatastrophic rainfall has blanketed Vermont's capital in water. State officials are urging residents to find higher ground as the Wrightsville Dam nears capacity.
How A.I. took center stage in the Hollywood writers' strike
  + stars: | 2023-07-05 | by ( Kate Sammer | ) www.cnbc.com   time to read: +2 min
The implementation of generative AI could mean sweeping changes for the entertainment industry. Advocates for AI technology see it as a tool that will uplift content creators and break down the barriers to entry. "And you don't have to have any sort of skills as a visual effects artist or as someone in the entertainment industry." Since the last writers' strike in 2007, widespread consumer adoption of video streaming has exemplified how novel technologies can upheave the entertainment industry. Discovery , losing billions and billions and billions of dollars a year."
Persons: Justine Bateman, Caleb Ward, Dan Rayburn, , Rayburn Organizations: Guild of America, Netflix, — Disney, Warner Bros, Discovery, Writers Guild of America, Hollywood
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailILWU Canada workers strike: What it means for the U.S. economyILWU Canada workers authorized a strike in a landslide vote. The strike would put vital U.S. retail and manufacturing supply chains in jeopardy.
Organizations: ILWU Locations: ILWU Canada, U.S, Canada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan to pay $290 million in settlement with victims of sexual predator Jeffery EpsteinJPMorgan has reached a settlement regarding the sexual abuse victims of the late Jeffrey Epstein. The bank is prepared to settle the claim at $290 million. The settlement does not include an admission of liability by the bank.
Persons: Jeffery Epstein JPMorgan, Jeffrey Epstein Organizations: JPMorgan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDonald Trump becomes the first U.S. ex-president to be indicted on federal criminal chargesFormer President Donald Trump faces seven criminal charges in a federal indictment, making history as first U.S. president, former or current, to be indicted on federal criminal charges. Trump's charges come in connection to 100 classified documents recovered from his personal home in Florida.
Persons: Donald Trump Locations: Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMoscow holds Victory Day military parade as Russia intensifies attacks on UkraineRussia's annual Victory Day parade was scaled back this year due to "security concerns" after an alleged drone strike targeted the Kremlin last week. At the event, Russian President Vladimir Putin delivered a speech praising Russian soldiers for fighting in Ukraine and condemned the West for unleashing "a real war" against Russia. Putin's remarks came just hours after Russia fired the latest missile barrage at Ukraine.
How non-compete clauses cost Americans $300 billion a year
  + stars: | 2023-05-07 | by ( Kate Sammer | ) www.cnbc.com   time to read: +1 min
The debate over the use and abuse of non-compete has come to a head, with the Federal Trade Commission proposing a new ban on non-competes. The FTC estimates that a ban on non-competes would expand career opportunities for 30 million Americans and increase wages by nearly $300 billion annually. Non-compete contracts were initially given to executive-level employees as a means to protect trade secrets. It is estimated that 18% of U.S. workers are bound by non-compete contracts. Watch the video above to learn more about the FTC's battle to ban non-compete contracts
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's Starship rocket explosion: What you need to knowSpaceX's Starship rocket took off on its first test mission today. Despite a successful launch, the rocket's voyage was short-lived as it exploded just minutes after leaving the launchpad.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley Bank meltdown: Here's how it happened in real-timeIn the course of 48 hours the tech centric Silicon Valley Bank ended its 40-year-run. Regulators seized SVB's deposits in the largest U.S. banking failure since the 2008 financial crisis and the second-largest ever.
How TV dinners changed American cooking, forever
  + stars: | 2023-02-24 | by ( Kate Sammer | ) www.cnbc.com   time to read: +1 min
American frozen food aisles wouldn't be as jam-packed if it wasn't for the TV dinner. Our desire for convenience in the kitchen has fueled a wave of food innovations, and it all began with the TV dinner. The TV dinner's promise of a hot-and-ready meal in under 25 minutes laid the groundwork for convenience-centric meal options to become the norm today. "Convenience foods are always going to be important for the consumer," said Phyllis Levy, the former executive director of new ventures at Campbell Soup Company . Watch this video to find out how TV dinners ushered in a new age of convenience in American kitchens, and how they led to a pandemic-era boom in frozen food sales.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBTS members are joining the military--Here's how much it will cost South Korea's economyThe biggest boy band in the world is joining the military. Members of K-pop phenomenon BTS will be enlisting in the South Korean military through a policy known as conscription, which requires all able-bodied men to serve at least 18 months. The impact of BTS's military service is likely to have economic consequences, as data suggest BTS is generating an estimated $3.9 billion in economic value per year towards the South Korean economy.
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