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☆ Elon Musk's X has signed up a new adtech partner as it looks to boost advertising revenue
▼ + stars: | 2024-11-19 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

AdvertisementX is partnering with adtech company PubMatic as it looks to boost its ad revenue. X's ad revenue has lagged after Musk's takeover and the company has sued some advertisers. Elon Musk's X has signed up the adtech company PubMatic as an authorized seller of its ads, as it looks to outside companies to help boost ad revenue, Business Insider has learned. X is also suing some of its advertisers, alleging they illegally colluded in violation of competition law to boycott the platform after Musk's takeover. This week, X added the Amazon-owned streaming platform Twitch as a defendant to its lawsuit.

Persons: Elon Musk's, X, Rajeev Goel, Goel, PubMatic, it's, Musk Organizations: Business, BI, Google, Twitter

☆ Elon Musk's X sues Twitch in lawsuit alleging advertisers conspired to boycott the platform
▼ + stars: | 2024-11-19 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

AdvertisementX has added Twitch as a defendant in a suit accusing advertisers of colluding to withhold ad spend. Ad revenue on X has plummeted since Elon Musk acquired the platform in 2022. Elon Musk's X is suing Twitch, alleging that the Amazon-owned video streaming platform and other companies illegally conspired to boycott advertising on the platform formerly known as Twitter. Twitch, X, and the WFA didn't immediately respond to requests for comment made by Business Insider outside normal US business hours. Musk's own behavior on and off the platform — including famously telling advertisers who boycotted X to "go fuck yourself" — hasn't encouraged advertisers to place their budgets there, either.

Persons: Elon Musk, Elon Musk's, Twitch, Stephan Loerke, it's, Ørsted, Twitch —, X's, hasn't, Jim Jordan, Donald Trump's, Abraham Yousef, Yousef Organizations: Global Alliance of Responsible Media, Elon, Twitter, Federation, WFA, Business, Unilever, CVS Health, Twitch, Google, Committee, WPP, Diageo, Tower Locations: Texas, Ohio

☆ Bluesky's 'acceleration is tremendous' as users flock to the new 'old Twitter'
▼ + stars: | 2024-11-19 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Many new Bluesky users are praising the feeling on the site as being similar to "old Twitter." This week, the app shot to the top of Apple's App Store and Google's Play Store, and a Bluesky spokesperson told Business Insider it hit 18.3 million registered users. Advertisement"Consumers, time and time again, show us that they will put a brand in jeopardy if the leadership is associated with ideology the consumers don't care for," Lind told Business Insider. A spokesperson for Bluesky told Business Insider that the platform aims to give users more choice and offer creators independence from being locked into specific platforms. A few weeks ago, Bluesky had less than 1 million daily users in the US, "so the acceleration is tremendous," said David Carr, an editor at Similarweb.

Persons: Bluesky, Elon Musk's, Jonathan Bellack, Mark Cuban, he'd, That's, Stephen Lind, Lind, We've, Jack Dorsey, Twitter, Dorsey, David Carr Organizations: Social, Business, Applied Social Media, Cuban, Meta, USC Marshall School of Business, Bluesky, Twitter Locations: Similarweb

☆ World’s largest olive oil producer says ‘liquid gold’ prices on track to halve from record levels
▼ + stars: | 2024-11-15 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Elvis Barukcic | Afp | Getty ImagesSpain's Deoleo, the world's largest olive oil producer, says one of the most challenging moments in the industry's history appears to be drawing to a close, with "liquid gold" prices expected to nearly halve from an all-time high over the coming months. Extra virgin olive oil prices in Spain's Andalusia stood at 6 euros ($6.33) per kilogram as of Nov. 6, according to Expana, an agricultural and food-focused market intelligence firm. Spain accounts for more than 40% of the world's olive oil production, making it a global reference for prices. A person holds a bottle of olive oil on June 21, 2024, in Barcelona, Catalonia, Spain. Deoleo said olive oil prices should fall to around 5 euros per liter, a steep drop from highs of 9 to 10 euros, which had become the norm in Spanish supermarkets this year.

Persons: Elvis Barukcic, Miguel Ángel Guzmán, Guzmán, Carbonell, Deoleo, Kyle Holland, Expana's Holland Organizations: Afp, Getty, CNBC, Europa Press, Anadolu Locations: Bosnian, Herzegovinian, Ljubuski, Capljina, Europe, Spain, Greece, Tunisia, Spain's Andalusia, Barcelona, Catalonia, Turkey, Menemen Plain, Izmir, Turkiye

☆ Bluesky’s user base has doubled in the past 90 days. Is it a mass exodus from X?
▼ + stars: | 2024-11-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

Bluesky’s user base has doubled in the past 90 days — on Tuesday the company said it had gained 1 million new sign-ups in the past week alone, bringing it to more than 15 million total users. “X usage is at an all-time high and continues to surge,” X CEO Linda Yaccarino said in a post Wednesday. Bluesky also saw daily visits jump on Election Day and the day after to 1.2 million and 1.3 million, respectively, up from around 800,000 in the days before. On Bluesky, daily users more than doubled from-mid October to the post-election week. In the run-up to the election, Musk spread false and misleading claims about Trump’s competitor, Vice President Kamala Harris.

Persons: Bluesky rocketed, Elon, Musk, Donald Trump, Charlie Warzel, New York Times ’ Mara Gay, Don Lemon, X, White supremacists, Linda Yaccarino, “, Similarweb, Bluesky, ” David Carr, we’ve, Ed Zitron, EZPR, Zitron, Mike Isaac, ”, Trump, MAGA, Kamala Harris, Vivek Ramaswamy, Vladimir Zelensky, Musk’s Starlink, That’s, – CNN’s Liam Reilly, Matt Egan Organizations: New, New York CNN, Apple, New York Times, CNN, Guardian, ” New York Times, Trump, Twitter, “ Department, Government Locations: New York, anecdotally, Bluesky, ”, Russia

☆ X rival Bluesky gains 1.25 million users following U.S. election
▼ + stars: | 2024-11-13 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

In this photo illustration, the Bluesky Social logo is displayed on a cell phone in Rio de Janeiro, Brazil, on September 4, 2024. Micro-blogging startup Bluesky has gained over 1.25 million new users in the past week, indicating some social media users are changing their habits following the U.S. presidential election. "We're excited to welcome everyone looking for a better social media experience," Bluesky CEO Jay Graber told CNBC in a statement. Meta CEO Mark Zuckerberg in October said Threads had nearly 275 million monthly users. Musk in May claimed that X had 600 million monthly users, but market intelligence firm Sensor Tower pegged X's monthly base at 318 million users in October.

Persons: Elon Musk, Jay Graber, Mark Zuckerberg, Jack Dorsey, Bluesky, Dorsey, Donald Trump Organizations: U.S, Elon, CNBC, Journalists, Trump, Brazilian Supreme Court Locations: Rio de Janeiro, Brazil, U.S, Canada, United Kingdom, Seattle

☆ Japan is ramping up efforts to revive its once dominant chip industry
▼ + stars: | 2024-11-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

In this article ASMLASML-NLMUINTCSMSD-GB2330-TW Follow your favorite stocks CREATE FREE ACCOUNTJapan is looking to revitalize its semiconductor industry. The Japanese government has unlocked billions of dollars in subsidies for its domestic chip sector. One likely beneficiary of the funding announced Monday will be Japan-based Rapidus, a state-backed chip venture at the heart of the country's chip revitalization efforts. In the 1980s, Japan was the world's dominant chip player and occupied more than half of the global semiconductor market. Through its chip subsidies, which have mostly been geared toward increasing manufacturing capacity, the country should be able to expand into other aspects of the supply and enhance its position, Yang added.

Persons: Shigeru Ishiba, Ishiba, Rapidus, Tetsuro Higashi, Michael Yang, Omdia, Yang, Brady Wang, Wang, Ken Kuo Organizations: MU, Getty, Japan, Toyota Motor, Sony Group, U.S, IBM, Taiwan Semiconductor Manufacturing Co, Samsung, Intel, Micron, CNBC, Counterpoint Research Locations: Japan, Taiwan, South Korea, South, U.S, Netherlands

☆ DJT shares implode right before the election, losing Trump $2.4 billion in net worth
▼ + stars: | 2024-11-01 | by ( Matt Egan | David Goldman | ) edition.cnn.com time to read: +3 min

CNN —Former President Donald Trump’s social media stock is plunging just ahead of the election, cutting deeply into his net worth. Truth Social owner Trump Media & Technology Group’s share price plunged another 9% on Friday after tumbling 12% Thursday and 22% Wednesday — Trump Media’s worst one-day loss since going public in March. Trump Media’s shares, which trade under the ticker “DJT,” have become a proxy for how traders think the presidential election will turn out. Trump Media did not release any major news that would explain the nosedive. The enormous gains boosted Trump Media’s value to $10.3 billion as of Tuesday’s close.

Persons: Donald Trump’s, —, Trump, Kamala Harris, ”, Steve Sosnick, ” Sosnick, George Kailas, he’s, ” Kailas, … Organizations: CNN, Truth Social, Trump Media & Technology, Trump, Trump Media’s, Interactive Brokers, Trump Media, ” Trump, Elon Musk, Similarweb, CBS, Paramount Global

☆ Trump’s social media company has tripled in value in five weeks
▼ + stars: | 2024-10-28 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Trump Media & Technology Group is losing money, generating very little revenue and its main product Truth Social remains a relatively small player in social media. And yet Wall Street is valuing former President Donald Trump’s social media company at nearly $8 billion, a price tag that has tripled in the span of just five weeks. Since plunging to record lows on September 23, Trump Media’s share price has skyrocketed. Trump Media’s share price saw a sharp decline in July after President Joe Biden ended his reelection bid. “If this were called Joe’s Media Company, we wouldn’t even be talking about it and it wouldn’t have a value anywhere close to this.

Persons: New York CNN —, Donald Trump’s, “ I’ve, ” Gene Munster, Munster, Trump, ” Munster, “, it’s, ” Trump, George Kailas, ” Kailas, Kailas, “ There’s, Joe Biden, Kamala Harris, Harris, ”, Steve Sosnick, Sosnick, ” Sosnick, he’s Organizations: New, New York CNN, New York CNN — Trump Media & Technology Group, Trump, White, Trump Media, Republican, Asset Management, CNN, Democratic, Interactive Brokers, Munster, “, Joe’s Media Company Locations: New York, Munster, Trump’s

☆ Store closings have hit their highest level in years. Competition and higher prices crushed them
▼ + stars: | 2024-10-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

“It kept these players alive that couldn’t survive in normal situations.”Competition from juggernauts like Amazon, Walmart, Costco, Home Depot and other big-box retailers has also squeezed smaller chains. In 2017 and 2018, retailers closed a combined 13,400 stores, according to Coresight. Retailers closed a record 9,800 stores in 2019. Around 9,700 stores closed in 2020, according to Coresight. Drug store chains are also shrinking.

Persons: —, ”, Michael Brown, Kearney, ” Brown, Barbara Kahn, Charlotte Russe, Shopko, Ted Decker, Joann Fabric, Denny’s, Kelli Valade, Justin Sullivan, Amazon’s, It’s, ” Kahn, TJ Maxx, TJX Organizations: New, New York CNN, Walgreens, Research, Companies, Consumers, “, Walmart, Costco, Home, ” Retailers, United, University of Pennsylvania’s Wharton School, Coresight, Retailers, Sears, P Global Market Intelligence, CVS, Aid, Marshalls, Aldi Locations: New York, “, Amazon, United States, Gymboree, JCPenney, Tijuana, HomeGoods

☆ This tiny country is giving $2,000 to every household as an Exxon oil boom supercharges its economy
▼ + stars: | 2024-10-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Guyana, the tiny South American nation, is giving $2,000 to every household in the country. AdvertisementThe world's fastest-growing economy is handing the equivalent of $2,000 to every household as it works to share its newfound oil wealth and soften the sting of higher living costs. Its oil fund held over $1.7 trillion of assets at the end of June, or more than $300,000 per Norwegian citizen. Sharing the wealthGuyana's $2,000 payment to households "sounds like great news," Karl Widerquist, a philosophy professor at Georgetown University-Qatar and the author of several books about universal basic income (UBI) told BI. Guyana's one-off, unconditional cash grant is a "positive step," Cleo Goodman, the basic income lead at the Autonomy Institute think tank, told BI.

Persons: —, Mohamed Irfaan Ali of, Ali, They've, Nicolas Suarez, Suarez, Karl Widerquist, Cleo Goodman Organizations: Service, Department, Public, Guyanese, P Global Market Intelligence, Resource Fund, Bank, Exxon, Guyana ramped, Monetary Fund, Georgetown University, Qatar, Autonomy Institute Locations: Guyana, Mohamed Irfaan Ali of Guyana, America, Riding, Britain, Venezuela, Brazil, Suriname, Netherlands

☆ Cheap, Secondhand Androids Are Now Cooler Than Brand-New Apple iPhones
▼ + stars: | 2024-10-16 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +9 min

People are more aware of refurbished phones, thanks to ad campaigns and word of mouth. For $249 or 299 euros, customers could buy a refurbished iPhone or Android without knowing the model they'd get. AdvertisementPerhaps the biggest thing blocking people from buying more secondhand phones is the manufacturers themselves. Amy Marty Conrad, a 34-year-old who lives in the Washington, DC, area says she and her husband have each bought refurbished phones. But perhaps the biggest thing blocking people from buying more secondhand phones is the manufacturers themselves.

Persons: Steve Jobs, Ming, Chi Kuo, Apple, Glen, Thibaud Hug, Hug, Larauze, Hug de Larauze, He's, ChatGPT, Amy Marty Conrad, She's, it's, Tim Cook Organizations: Apple, Research, International Data Corporation, Vodafone, Recommerce, Zion Market Research, eBay, Samsung Galaxy, European Union, Apple Intelligence, Back Locations: Europe, France, England, Washington, DC, Oregon, European

☆ Amazon is becoming Big Tech's king of cash, and Wall Street wants a piece of it
▼ + stars: | 2024-10-09 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Amazon's cash balance is expected to reach almost $400 billion by 2027, far outpacing tech rivals. AdvertisementAmazon's ballooning cash balance is drawing Wall Street's attention. By 2027, Amazon is forecast to have almost $400 billion in cash, far outpacing its Big Tech rivals. Despite the "remarkable" growth in Amazon's cash balance, the company hasn't been as aggressive as other tech companies in rewarding shareholders, he noted. During an April call with analysts, Amazon CFO Brian Olsavsky addressed the question about shareholder returns.

Persons: —, Wall, Mark Mahaney, Mahaney, Evercore's Mahaney, hasn't, Mark Shmulik, Bernstein, Morgan Stanley, Gene Munster, Munster, Andy Jassy's, Brian Olsavsky, Jassy, Olsavsky, Deepwater's Munster Organizations: Service, P Global Market Intelligence, Microsoft, Amazon, Big Tech, Apple, Deepwater Asset Management, Federal Trade Commission, Meta

☆ Harvard students made Meta Ray-Bans do facial recognition. Meta execs once thought this was a good idea.
▼ + stars: | 2024-10-04 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Harvard students rigged their Meta Ray-Bans to do facial recognition, 404 Media reports. Nguyen told Business Insider that the experiment wasn't meant to show that popular Meta Ray-Bans are a problem. Another goal of the experiment, he said, was to help spread awareness on how to protect yourself digitally against facial recognition software. Meta's glasses can't recognize faces by defaultA spokesperson for Meta told Business Insider, "To be clear, Ray-Ban Meta glasses do not have facial recognition technology. Facial recognition.

Persons: Andrew Bosworth, —, AnhPhu Nguyen, Caine Ardayfio, LhxModhDpk, Meta Ray, Meta, Nguyen, Ray, Insider's Peter Kafka, Bosworth, It's Organizations: Service, Media, Harvard, Business, Meta, Google, BuzzFeed, Reality Labs, European Union, IDC Locations: Illinois , Texas

☆ Harvard students used Meta Ray-Bans to do facial recognition. Meta execs once thought this was a good idea.
▼ + stars: | 2024-10-04 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

☆ South Korea factory activity shrinks sharply as overseas demand weakens, PMI shows
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +2 min

Aerial view of the capital city of Seoul in South Korea, seen at sunset. South Korea's factory activity contracted at the sharpest pace in 15 months in September as overseas demand slowed for the first time in the year, a private survey showed on Wednesday, suggesting a slow road to a full-blown economic recovery. Output and new orders shrank in September, after gaining for five straight months, with the steepest slump in 11 months and 15 months, respectively. Specifically, export sales to China, Japan, India and the United States weakened, according to the survey. The survey showed backlogs of work, an indicator of near-term activity, fell by the most in five months, while optimism for the year ahead weakened sharply to the lowest level since December 2022.

Persons: Usamah Bhatti Organizations: P Global, P Global Market Intelligence, Employment, Samsung Electronics, SK Locations: Seoul, South Korea, China, Japan, India, United States

☆ What a resurgence in Wall Street dealmaking means for Morgan Stanley and Wells Fargo
▼ + stars: | 2024-10-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Great news for Club stocks Wells Fargo and Morgan Stanley : The rebound in investment banking isn't over yet. We'll find out to what extent when Wells Fargo reports earnings on Oct. 11 and Morgan Stanley delivers quarterly results on Oct. 16. MS YTD mountain Morgan Stanley (MS) year-to-date performance For Morgan Stanley, a resurgence in its investment banking division is crucial to our investment thesis and why we stuck with it. WFC YTD mountain Wells Fargo (WFC) year-to-date Morgan Stanley's IB business is much larger than Wells Fargo's. Wells Fargo, which has a strong wealth management franchise, is branching out to take a slice of the IB pie.

Persons: Morgan Stanley, We'll, Wells, Jerome Powell, Powell, Rebecca Brokmeier, Brokmeier, Morgan, Jim Cramer, Goldman Sachs, underperformance, Dan Simkowitz, Jim, We've, Charlie Scharf, Jim Cramer's, William McChesney Martin Jr, Anna Moneymaker Organizations: Club, Wells, Federal Reserve, Wall, P Global Market Intelligence, KPMG, Global, Fed, National Association for Business, CNBC, Morgan Stanley's IB, IB, Bloomberg News, Federal, Getty Locations: U.S, Nashville , Tennessee, Wells, Wells Fargo, Washington , DC

☆ US port workers strike starts across the East and Gulf Coasts
▼ + stars: | 2024-10-01 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

The strike, which was confirmed by the Port Authority of New York and New Jersey as well as the Port of Virginia, began at midnight. The strike will stop the flow of a wide variety of goods over the docks of almost all cargo ports from Maine to Texas. The ports involved include the Port of New York and New Jersey, the nation’s third-largest port by volume of cargo handled. Port Wilmington in Delaware describes itself as the nation’s leading banana port, bringing in a large share of America’s favorite fruit. President George W. Bush applied the act in 2002 to halt an 11-day lockout of union members at West Coast ports.

Persons: haven’t, USMX, ” Harold Daggett, containerization, John McCown, Biden, ”, Joe Biden, Taft, Hartley, George W, Bush, “, ” Biden, ” It’s, Daggett, “ It’s, Peter Tirschwell, ’ ” Organizations: New, New York CNN, International Longshoremen’s Association, Port Authority of New, United States Maritime Alliance, American Farm Bureau, Retailers, ILA, “, P Global Market Intelligence, CNN Locations: New York, Gulf Coast, Port Authority of New York, New Jersey, of Virginia, Maine, Texas, of New York, Port Wilmington, Delaware, West Coast, Taft

☆ Mark Zuckerberg says he wants to be remembered for this
▼ + stars: | 2024-10-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Meta founder Mark Zuckerberg knows how he wants to be remembered. Zuckerberg hopes Meta will be a "technology" company decades from now — not just an "app company." Zuckerberg wants people to say Meta took "really big swings" that changed the industry and the world. Right, we're not like — we're not an app company," Zuckerberg said of Meta. Zuckerberg said as well that he just wants Meta to be a company that "builds awesome things."

Persons: Mark Zuckerberg, Zuckerberg, Meta, —, Tiffany Janzen, we're, hasn't, Steve Jobs, Jobs, Elon Musk, Musk Organizations: Service, Meta, Business Insider, Harvard, Facebook, Apple, IDC, SpaceX Locations: WhatsApp, Silicon

☆ U.S. ports strike will affect the 'entire economy': S&P Global Market Intelligence
▼ + stars: | 2024-10-01 | 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 EmailU.S. ports strike will affect the 'entire economy': S&P Global Market IntelligencePeter Tirschwell of S&P Global Market Intelligence, discusses the U.S. East Coast and Gulf ports strike and the impact it will have on supply chains.

Persons: P Global Market Intelligence Peter Tirschwell Organizations: U.S, P Global Market Intelligence, U.S . Locations: U.S . East Coast, Gulf

☆ Port workers from Maine to Texas are set to strike Tuesday. Expect shortages and higher prices
▼ + stars: | 2024-09-26 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +10 min

It represents the major shipping lines, all of which are foreign-owned, as well as terminal operators and port authorities. Depending on duration, a strike could mean shortages of consumer and industrial goods, possibly driving up prices again. That labor peace has helped them capture market share from West Coast ports that have historically had more contentious labor relations. But he said the shipping lines appear unwilling to pay what it takes this time. The shipping lines realize the problem with having Biden order the union back to work, said Tirschwell.

Persons: Luke Sharrett, Patrick Anderson, ”, USMX, Harold Daggett, John McCown, containerization, Brendan Smialowski, Peter Tirschwell, “, Republican Donald Trump, ” Tirschwell, hasn’t, Jonathan Gold, ” Gold, Biden, Joe Biden, Taft, Hartley, George W, Bush, Bradley Saunders, Daggett, ’ ” Organizations: New, New York CNN, US Maritime Association, International Longshoremen’s Association, BMW, Port, Bloomberg, Getty, ILA, Anderson Economic Group, “, P Global Market Intelligence, Federal Maritime Administration, Republican, National Retail Federation, North, Capital Economics, United Auto Workers Locations: New York, Maine, Texas, East Coast, Gulf, Gulf Coast, of New York, New Jersey, Port Wilmington, Delaware, Port, Baltimore, Port of Charleston, South Carolina, Charleston , South Carolina, West Coast, Michigan, Port of Baltimore, Baltimore , Maryland, AFP, East, North American

☆ Harris and Trump want to make stuff in America again. That’s really hard to do
▼ + stars: | 2024-09-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

And it’ll be tough for either Vice President Kamala Harris or former President Donald Trump to turn that around if elected, no matter their grandiose campaign promises. Put together, such investments have resulted in a sharp pick-up in construction spending by manufacturers, according to government data. Manufacturing’s main pain points are sluggish demand and elevated interest rates, according to recent manufacturing surveys by the Institute for Supply Management and S&P Global. And, of course, there are issues specific to certain sectors of the manufacturing industry. It could get better, but it’s not clear whenIt’s not all doom and gloom for the manufacturing industry.

Persons: Joe Biden, Kamala Harris, Donald Trump, Biden, haven’t, hasn’t, Harris, ” Harris, Trump, ” Chris Williamson, ” Timothy Fiore, There’s, ” Lauren Goodwin, ” Organizations: Washington CNN, Act, Congress, Private, Manufacturers, Labor Department, Institute for Supply Management, P, P Global Market Intelligence, ISM’s Manufacturing, Survey, P Global, Boeing, Federal, New York Life Investments Locations: America, Pittsburgh, Savannah, China, Pennsylvania, Korea, North Carolina, Germany, Georgia

☆ Here we go again: Egg prices are spiking. Here’s why
▼ + stars: | 2024-09-25 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Egg prices spiked by 28.1% in August from 12 months ago, easily the biggest increase out of any food item tracked by the Bureau of Labor Statistics. The main culprit for rising egg prices is a familiar one: bird flu. Where egg prices are rising the mostStill, the current BLS average of $3.20 per dozen eggs remains high. Zooming in to focus on just the past year, Datasembly found that egg prices have increased the most in Hawaii (+49%), Minnesota (+44%) and Alabama (+38%). When egg prices spiked to record highs in early 2023, Cal-Maine’s profit skyrocketed 718%.

Persons: ”, Phil Lempert, they’ve, Price, Brian Moscogiuri, Datasembly, Moscogiuri, graf, ” Moscogiuri, Kevin Bergquist, Musharbash, Emily Metz, ” Metz, Lempert, “ Organizations: New, New York CNN, Bureau of Labor Statistics, Centers for Disease Control, Prevention, US Department of Agriculture, USDA, CNN, Shoppers, Food Institute, Farm, Maine Foods, Cal, Basel Musharbash, Monopoly, American Egg Board, SNAP Locations: New York, Minnesota, Missouri, Iowa, Oklahoma, Alabama, Hawaii, Wells, United States, Cal, Maine, Basel, Texas

☆ UBS says get defensive as global growth disappoints. Gives stocks to buy
▼ + stars: | 2024-09-17 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

As global growth continues to slow, investors should get overweight on defensive names, according to UBS. August marked yet another month of declining global growth, as the Global Manufacturing Purchasing Managers' Index (PMI) reported 49.5 for the month , down from 49.7 in July, according to S & P Global Market Intelligence. Wall Street has taken a bullish stance, as 12 of the 18 analysts covering the stock have issued strong buy or buy ratings, according to LSEG. Constellation Energy has also been on a monster run this year, with shares surging 70%. About 82% of the analysts covering the stock rate it a buy or strong buy, according to LSEG.

Persons: Dow Jones, Eli Lilly, it's Organizations: UBS, Global Manufacturing, P Global Market Intelligence, Institute for Supply Management, Federal Reserve, Constellation Energy, Constellation Locations: Ireland

☆ Alibaba’s Taobao shopping app launches AI-powered English version in Singapore, jumps to first place in Apple’s App Store
▼ + stars: | 2024-09-13 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +3 min

In this article BABA Follow your favorite stocks CREATE FREE ACCOUNTThe logo of Alibaba's e-commerce app Taobao is displayed next to mobile phones displaying the app, in this illustration picture taken October 25, 2023. Reuters | Florence LoSingapore — Chinese e-commerce giant Alibaba 's Taobao shopping app topped the Apple App Store charts in Singapore after releasing an English version on Tuesday — thanks to translations powered by artificial intelligence. That's according to Sensor Tower, a market intelligence firm whose data shows Taobao shot to first place in Apple's Singapore App Store across all categories, as of Sept. 11. As early as last year, Singaporean Taobao users had previously made guides on how to purchase clothes, furniture and lifestyle items from Taobao. These video guides were posted on the ByteDance-owned TikTok platform, another Chinese app.

Persons: Florence Lo, Alibaba, Bain, David Zehner Organizations: Reuters, Company, Asia, South Korean, Bain, CNBC Locations: Florence, Florence Lo Singapore, Singapore, Apple's Singapore, China, AliExpress, Malaysia, Asia Pacific, Singapore's

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