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☆ TGI Friday's Bankruptcy: Changing Tastes, Wall Street Crushed Chain
▼ + stars: | 2024-11-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

The hundreds of TGI Fridays franchises across 41 countries are independently owned entities and, therefore, not part of the bankruptcy process. AdvertisementIf you're a TGI Fridays lover, that means you can still go to the one nearby if you want. Like companies in a similar situation, the story of TGI Fridays is one of slow decline before an accelerated crash. In addition to grappling with changing tastes, TGI Fridays has also been subject to another trend in the restaurant business: private equity financial maneuvering. It can always be Friday anywhere, not just TGI Fridays, and maybe at a better price point or nicer experience.

Persons: Ray Blanchette, Brandon Coleman III, Coleman, Weldon Spangler, It's, Jonathan Maze, Tom Cruise, Ruby, Chili's, You've, they'll, who'd, Burt, hasn't, There's, John Bringardner, Bringardner, that's, Ragini, Alicia Kelso, Kelso, TriArtisan, Hostmore, I'm, Emily Stewart Organizations: Street, Restaurant Business, Buffalo Wild Wings, NFL, Strategic Resource, — TriArtisan Capital Advisors, Sentinel Capital Partners —, Sentinel, Citibank, SEC, FTI Consulting, Creditsafe, Hooters, Business Locations: Beppo, New York, Olive, Nation's

☆ A New Way to Leave Twitter for Bluesky Without Losing Your Tweets
▼ + stars: | 2024-11-19 | by ( Adam Rogers | ) www.businessinsider.com time to read: +7 min

"We know lots of people are importing their old posts, and we're excited about that," Liu says. To be honest, I've found it a bit weird to see my old tweets in my new home. To fix that — and to minimize the potential for tampering with old tweets — Bluesky is planning to label posts that are moved over from other platforms. "We're about to ship an update to show old posts that are imported with an archival tag," Liu says. Once I've got all my old tweets unpacked on Bluesky, I'm going to head back over to X and torch my entire archive.

Persons: Elon Musk, Trump, We've, Emily Liu, Nicolas Castellani, Amos da Silva Bezerra, They've, X, Bezerra, Musk, Mastodon, Bluesky, it's, Castellani, Donald Trump, David Shiffman, Liu, backdating, I've, Joe Bak, Coleman, Adam Rogers Organizations: Elon, Bluesky, Twitter, Business Locations: decamp, Canada, Europe, Brazil, Bluesky

☆ On-the-Job Training Is Broken. That Hurts Companies and Workers.
▼ + stars: | 2024-11-14 | by ( Emily Stewart | ) www.businessinsider.com time to read: +18 min

Workers are struggling to get a handle on their jobs, and this failure falls on everyone — companies, managers, human-resources departments, and, in some cases, the workers themselves. The chaos has left employers, managers, and employees wondering just how much time and money it's worth investing in training in the first place. It's tough to learn by osmosis over Slack, and the deluge of HR apps and training modules isn't filling in the gaps. As workers and managers are increasingly overextended, these types of unmeasured, softer activities can fall by the wayside. Gavin emphasized that it's not just on companies and managers to make sure employees are learning and getting onboarded but also on individual workers.

Persons: Gen, It's, what's, Gallup, Ana Goehner, Kenneth Matos, Matos, they're, it's, Ashley Herd, nonmanagers, Christy Pettit, Herd, Stephanie Wolf, she's, Wolf, that's, Phoebe Gavin, Gavin, I'd, hadn't, Michelle, Z, they've, Emily Stewart Organizations: Workers, Adobe, doer, Fortune, Business Locations: America, HiBob, RebuttalPR

☆ Hollywood Is Leaving Los Angeles: Remote Work Comes to TV, Movies
▼ + stars: | 2024-11-14 | by ( Lucia Moses | ) www.businessinsider.com time to read: +14 min

AdvertisementLately, creative workers are increasingly chasing their Hollywood dreams in production hubs far from Hollywood. FilmLA, which issues permits for production in the region, found that Greater Los Angeles' share of US-produced TV and film projects declined from 23% in 2021 to 18% last year. Brin said Lexington had attracted 30 film and TV projects so far this year, representing more than $2 million in local spending. Actually being on a set is only one part of entertainment production. While the power of Los Angeles is dispersing, no single "new Hollywood" is coming to take its place.

Persons: Joe Gallegos Jr, he'd, Bailee Madison, Lukasiak, Pat Boone, Gallegos, JJ Abrams, HBO Max —, he's, It's, Patrick Adler, Taner Osman, couldn't, Tiffany FitzHenry, Lisa Brin, Brin, Noah Hawley, Maddy Bilder, Yorgos, Guy, Ryan Gosling, Emily Blunt, Tyler Mitchell, I've, Bilder, Adler, Otis, FitzHenry, hasn't, Keisha Perry, Cedric, I'm, She's, Lucia Moses Organizations: Netflix, HBO, of Labor Statistics, Westwood Economics, Planning Associates, Dallas, Miami, Hollywood, Bureau of Labor Statistics, Marvel, Otis, Creative, Lex Studios, Austin, Austin Film Society, Southwest, Sony, Universal Pictures, Ampere, Technology, ScreenIt, LA, Westwood, Gallegos, Business Insider's Media Locations: New Mexico, Los Angeles, Albuquerque, La La, Hollywood ., America, California, Atlanta, Hollywood, LA, Georgia, Kentucky, Lexington, New York, Ireland, Budapest, South Africa, Hungary, Australia, North America, Saudi Arabia, Miami

☆ How Reddit Went Mainstream: Google Search Increase, Real Human Users
▼ + stars: | 2024-11-10 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

The search platform is prioritizing Reddit's results. Going public, for Reddit, has entailed becoming a more welcoming place for users as well as for investors, Kessler said. "If you're public and these things come out, I mean, that could start having an impact on your market cap. Just as search engine optimization operations have gotten good at gaming Google, they can likely do it on Reddit, too. It's part social media, part search engine, part just a place for real answers, or as close to real as you're going to get on the internet today.

Persons: Reddit, It's, Steve Huffman, you've, Huffman, John Herrman, Mark Lehmann, Anita Ramaswamy, it's, Marcel Hollerbach, let's, Scott Kessler, isn't, Kessler, Jessica Melton, that's, What's, corporatization, Emily Stewart Organizations: Reddit, New Yorker, Google, Twitter, New York Magazine, Citizens JMP Securities, Meta, Facebook, Third, GameStop, WSB, PayPal, Brands, Business Locations: United States, Seattle

☆ China announces $1.4 trillion over five years to tackle local governments’ hidden debt
▼ + stars: | 2024-11-08 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +3 min

BEIJING — China on Friday announced the central government would allocate an additional 6 trillion yuan ($840 billion) to local governments for tackling hidden debt issues. The policies will reduce hidden debt from 14.3 trillion yuan to 2.3 trillion yuan by 2028, Lan said. At the parliamentary meeting, officials had reviewed a plan to increase the limit on how much debt local governments can issue, according to state media. The additional quota would go toward swapping out local governments’ hidden debt. Nomura estimates that China has 50 trillion yuan to 60 trillion yuan ($7 trillion to $8.4 trillion) in such hidden debt, and said it expected that Beijing could allow local authorities to increase debt issuance by 10 trillion yuan over the next few years.

Persons: of Finance Lan Fo’an, Lan, Xi Jinping, Donald Trump —, —, Nomura Organizations: Friday, of Finance, People’s Bank of, People’s Congress, U.S, Nomura, International Monetary Fund Locations: BEIJING, China, Beijing, People’s Bank of China, Covid

☆ Rise of Middle-Class Shoplifters: Americans Are Stealing From Stores
▼ + stars: | 2024-11-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +18 min

And before you ask, no, he doesn't feel bad about it, especially when he pilfers from Whole Foods. AdvertisementBut there's also a lot we don't know about retail theft. "No, I don't feel bad about stealing from Jeff Bezos," one 20-something occasional shoplifter in Washington, DC, told me. "It doesn't feel like a world in which I can really get by and build a life very easily anymore, " he said. Advertisement"If most of this is happening in Walgreens and Walmart and places like that, I don't know, is it a problem?"

Persons: Carson's, he's, Carson, He's, shoplifts, Jeff Bezos, there's, it's, Joshua Jacobson, California who's, —, that's, Ernesto Lopez, they've, Jeff Prusan, Joe Schmoes, they're, Keith, shoplifter, That's, Donovan, Donovan's, snagging, she's, Jacobson, Jeff Bezos isn't, David Johnston, we're, hasn't, Emily Stewart Organizations: Walmart, Foods, Amazon, National Association of, Criminal, Atlantic, Depot, Target, Guardian, National Retail Federation, Business Locations: New York, California, Washington ,, Atlanta, Texas, Illinois, Walgreens

☆ Millennials Are Staring Down 40 and It's Making Them Terrified
▼ + stars: | 2024-10-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

The modern 40 means having toddlers running around, buying your first home, and, at last, catching up on retirement savings. "By the time you're 40, 45, you can't sing, and you can't play guitar; maybe it's time to give up on your aspirations of being a rock star." At work, you realize you're protected from age discrimination, which you feel like you're still much too young for. When we're young, we're happy — and then that declines, bottoming out in middle age, about 40 to 50. The question isn't just whether my 40 will look like my parents' 40 — it's also whether it will look like the 40 of everyone from my high school.

Persons: you've, touchpoints, Carol Graham, they're, Hannes Schwandt, Millennials, they'd, that's, Jean Twenge, Gen X, Silents, Graham, Justin Balik, it's, Oz, Kelly, She's, —, It's, They're, We're, Instagram, Gen Zers, Lindsey Anderson, Anderson, midlife, Gen, Emily Stewart Organizations: AARP, Brookings Institution, grays, Northwestern University, Facebook, University of Maryland, Business Locations: midlife, Schwandt, New Jersey, Massachusetts, I'm

☆ Popular Restaurants Can Get Killed by a Michelin Star, Food Awards
▼ + stars: | 2024-10-23 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

He then looked at the diverging fortunes of those restaurants that went on to receive a Michelin star — a signifier of excellence in the industry. By 2019, Sands found that restaurants given a Michelin star were more likely to shutter. The publicity created around an award such as a Michelin star drives interest. But he pointed out that even if they ultimately failed, the Michelin restaurants that closed in Sands' research generally had a pretty good run. In many ways, "what to do about growth" is a classic question in any business, including restaurants and hospitality.

Persons: Daniel Sands, Sands, Darren Tristano, Joe Carroll, Anselm, haven't, Carroll doesn't, Danny Meyer, Ryan Sutton, It's, John Gordon, Carroll, Semilla, Emily Stewart Organizations: University College London's School of Management, Michelin, The New York Times, New York Times, New, Square, LO Times, Business Locations: York, New York, Brooklyn, Sands, San Diego, , New York, Philadelphia, Manhattan

☆ 'The million-dollar question of this election': Women's health startups are confronting a shifting legal landscape
▼ + stars: | 2024-10-22 | by ( Melia Russell | Rebecca Torrence | ) www.businessinsider.com time to read: +14 min

Founders of women's health startups feel doubly invested in this election, one of the closest presidential races of the century. They said another Trump victory creates uncertainty for reproductive health startups, from period trackers to online abortion clinics to embryo banks. For startup Julie, the legal status of emergency contraception is the "million dollar question of this election," said Amanda E/J Morrison. Trump's waffling on reproductive rights has put founders of women's health startups on notice. For some founders of women's health startups, this election is more than a political contest; it has ramifications for their livelihoods.

Persons: Julie, Amanda E, J Morrison, Morrison, Lily, Trump, We're, —, Kamala Harris, Trish Costello, Mika Eddy, Eddy, Samuel Corum, Jane, Roe, Wade, Hey Jane, Carli Sapir, Sapir, Donald Trump, Mark Wilson, Flo, Deena Shakir, Lauren Berson Sugarman, Berson, Alice Zheng, Zheng, Julie's, Dobbs, TikTok influencers, Julie swag, Julie Julie's, It's, Melia Russell, Rebecca Torrence Organizations: Suffolk University, Trump, Getty, Amboy Ventures, White, Lux Capital, Maven, Sciences, Vitra Labs, Investors, Walmart, JAMA, Business Locations: New York, Boston, Texas, California, we're, Roe America, Alabama

☆ Convenient No More: Why CVS, Walgreens, 7-11 Are in Trouble
▼ + stars: | 2024-10-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

What's more, many pharmacies serve as a convenient destination for all sorts of essentials, from aspirin to mascara. Big chains like Walgreens and CVS make their money in two main ways: selling prescriptions in the back of their stores and selling everyday goods out front. As Walgreens and CVS stores have proliferated over the past decade or so, many of their locations are basically right on top of each other. On the other end of the business, pharmacies are expensive to run. In the current landscape of commoditized pharmacies, there's no such thing as personalized service.

Persons: What's, Elizabeth Anderson, Neil Saunders, nilly, they've, Douglas Hoey, Jason Goldberg, Waits, Duane Reade, Brian Tanquilut, I've, Goldberg, Saunders, I'm, Nick Fabrizio, Steven Anderson, Fabrizio, Emily Stewart Organizations: Walgreens, CVS, Rite, Evercore ISI, Walmart, National Community Pharmacists Association, Express, Groupe, Jefferies, MTV, Cornell University, National Association of Chain Drug, Business Locations: mascara

☆ We're about to enter the Digital Dark Ages
▼ + stars: | 2024-10-15 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Without laborious renaming, everything behind those links — billions of them, a decade of digital content — will become inaccessible. We're about to enter the Digital Dark Ages. The Department of Veterans Affairs is legally required to preserve all medical records for 75 years after the death of a vet — but it's having problems, in part because of a balky digital records system. "Over the long term, you can't preserve a digital object in its original form," says Manoff, the former MIT librarian. The Dark Ages, as historians used to call the early centuries of medieval Europe, lasted for 500 years.

Persons: Mark Graham, Graham, we're, Marlene Manoff, Loren McClenachan, McClenachan, we'd, Adam Rogers Organizations: Google, Companies, of Alexandria, New York Times, Pew Research Center, Gawker, Los Angeles Herald Examiner, New York Newsday, Paramount, MTV, Comedy, Yahoo Groups, Yahoo, Facebook, Penguin, AOL, Prodigy, Department of Veterans Affairs, Wayback, Wayback Machine, MIT Libraries, Scripps Institution of Oceanography, MIT, Business Locations: Friendster, Key West , Florida, Europe

☆ Millennials and Gen X Are Figuring Out What to Do With Boomers' Stuff
▼ + stars: | 2024-10-07 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

AdvertisementIn short, boomers love stuff, and not just their stuff. They held on to their parents' stuff when they inherited it, and a lot of them are sitting with their kids' stuff in their attics now, too. The market value of the object and the sentimental value don't always go hand in hand. "I often emphasize the idea that the market value of the object and the sentimental value don't always go hand in hand," he said. Remember, it takes a lot of stuff to live a full life — and it's hard to let go of it.

Persons: Dale Sperling's, Sperling, it's, they're, It's, they've, Gen Xers, Gen Zers, Sarah Hersh, Ben Hersh, — you'll, Mary Kay Buysse, They're, Hummel, Mindy Godding, you've, Godding, Elizabeth Hirsh, Wen Stone, Janelle, Ben Miller, they'll, Miller, Stephanie Preston, Buysse, we've, —, Janelle Stone, I've, that's, she's, doesn't, downsizers, Cameron Huddleston, Let's, Emily Stewart Organizations: Facebook, National Association of Senior, Boomers, University of Michigan, eBay, Business Locations: New York City, New Jersey, North Carolina, Dallas, downsizers, New York

☆ Hard Seltzers and Canned Cocktails Are Getting Boozier
▼ + stars: | 2024-10-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

Hard seltzers, spiked seltzers, and their ilk have been marketed as lighter than traditional alcoholic beverages. In the 2010s, the hard seltzers started to pop up, with names like White Claw and Truly, both of which launched in 2016. Advertisement"During the pandemic, hard seltzers really blew up, and I think hard seltzers are one of those ones that were perceived as a little bit of a better-for-you option," said Kaleigh Theriault, an associate director of beverage-alcohol thought leadership at NIQ, a market research firm. The market got saturated, and people started to realize there could be a lot more to canned alcohol than beer and hard seltzers. "So companies are having to innovate more and more, and that has led to some higher-ABV canned cocktails."

Persons: they've, aren't, seltzer, Kaleigh Theriault, that's, NIQ, Chris Budzik, Cayman Jack, there's, Kate Bernot, Bernot, you've, " Theriault, It's, Bud, —, Bud Light, Budzik, he'd, Will, Emily Stewart Organizations: Brands, Anheuser, Busch InBev, NIQ, AB InBev, Coca, Modelo, Business Locations: seltzers, Manhattan, NIQ, Pennsylvania, Michigan, Vermont, America

☆ ‘No challenges can stop China’s progress,’ Xi Jinping says in 75th anniversary speech
▼ + stars: | 2024-10-01 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +3 min

BEIJING — Chinese President Xi Jinping said Monday that no challenges can stop the country from moving forward and reiterated Beijing’s reunification aims with Taiwan. “The path ahead will definitely see challenges,” Xi said, before calling on the country to overcome uncertainties and risks. “No challenges can stop China’s progress.”The comments were translated by CNBC from a Chinese state media broadcast. Xi did not mention specific countries or trade conflicts in his Monday speech, instead portraying China as upholding globalization. In a 2019 speech commemorating the PRC’s 70th anniversary, Xi had said that no force could sway China’s development, amid festivities involving a military parade and large-scale celebrations.

Persons: Xi Jinping, ” Xi, Xi, Beijing’s, “, ” Organizations: CNBC, Communist Party’s, Macao —, People’s Bank of, Ministry of Finance Locations: BEIJING, Taiwan, People’s Republic of China, Beijing, China, U.S, Europe, Greater China, Hong Kong, Macao, People’s Bank of China

☆ Why Kamala Harris and Donald Trump Are Courting the Crypto Crowd
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. Related storiesWhile Molly White, a crypto researcher and critic, described Harris' recent statements about crypto as "middle of the road," she said she thought the crypto industry was "definitely taking an optimistic view." The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

Persons: cryptocurrency, Crypto, Sen, Katie Porter, Jamaal Bowman, Sherrod Brown's, Bernie Moreno, Donald Trump, Kamala Harris, Trump, Harris, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Cameron, Tyler Winklevoss, He's, Adam Kovacevich, Joe Biden's, Gary Gensler, Lina Khan, Biden, Sheila Warren, Brian Hughes, Elizabeth Warren, Jon Tester, Bernie Sanders, Barron, it's, Robert Weissman, he's, She's, Chuck Schumer, Jared Polis of, Anthony Scaramucci, Mark Cuban, Ron Conway, Sherrod Brown, Kamala, she's, Rachael Horwitz, " Horwitz, Harris hasn't, Molly White, Horwitz, It's, There's, Weissman, Dan Cassino, Khan, Warren, that's, Emily Stewart Organizations: Democratic, Sherrod Brown's Republican, Gemini, Facebook, Trump, GOP, Republican, of, Democrats, Securities and Exchange, Federal Trade Commission, Crypto, Innovation, Liberty Financial, Public Citizen, Financial Times, Politico, Gov, Jared Polis of Colorado, Wall Street, Haun Ventures, Fairleigh Dickinson University, Capitol Hill, SEC, FTC, Chamber, Business Locations: Ohio, Wisconsin, Nashville, United States, Silicon Valley, That's, California, New York, America, bitcoin, Washington

☆ 2024 Election: Crypto Bros Could Swing Votes Toward Kamala or Trump
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. In September, he unveiled his own crypto venture, World Liberty Financial. The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

☆ Meta's new Ray-Ban glasses are pulling a bait and switch
▼ + stars: | 2024-09-26 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +6 min

Now, despite a rocky start three years ago, Meta's smart glasses are doing better than expected. Meta's Ray-Bans have a camera and speaker and are packed with AI. Meta's loftier goal, the Orion glasses , aren't quite there. Yet getting people into the Orion glasses may depend on getting people comfortable with smart glasses generally, and that's where the Ray-Bans could come in. And the Meta Ray-Bans make it even easier to use AI as you move through the world — no hands (and awkward air-pinching ) required.

Persons: Mark Zuckerberg, Ray, Zuckerberg, Meta's Ray, Meta's, They're, they're, George Jijiashvili, Peter Kafka, it's, Bob Dylan, Lady Gaga, Amanda Hoover Organizations: Orion, International Data Corporation, Apple, Microsoft, Google, IDC, Research, VR, Business

☆ Surging AI demand could cause the world's next chip shortage, research says
▼ + stars: | 2024-09-25 | by ( Arjun Kharpal | Arjun Kharpal Is A Senior Correspondent For Cnbc In London. | ) www.nbcnews.com time to read: +3 min

The last major semiconductor shortage happened during the Covid-19 pandemic amid supply chain disruption and a rise in demand for consumer electronics as people were forced to stay and work at home. These GPUs which are housed in data centers are critical for the training of huge AI models which underpin applications like OpenAI’s ChatGPT. Bain said demand for GPUs and AI consumer electronics could be the cause of a chip shortage. The semiconductor supply chain is spread across multiple companies. “Geopolitical tensions, trade restrictions, and multinational tech companies’ decoupling of their supply chains from China continue to pose serious risks to semiconductor supply.

Persons: Bain, Anne Hoecker, TSMC, ” Bain Organizations: Bain & Co, Technology, Nvidia, Qualcomm, Samsung, Microsoft, Bain, CNBC, Taiwan Semiconductor Manufacturing Co, Samsung Electronics, Washington Locations: Americas, Taiwan, Netherlands, U.S, China

☆ Boomers Regret Not Taking Sick Days, Time Off From Work Like Gen Z
▼ + stars: | 2024-09-25 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

"I was sort of raised that you do a hard day's work and you're honest, and things will work out for you — it's a two-way street between you and your employer," he says. After publishing the article about Gen Z's predisposition to take time away, I got a lot of feedback from older generations. Some of it was predictable "the kids these days" complaints lamenting that nobody wants to work nowadays, that work ethic has disappeared, etc. "When you work for yourself, you're working for one of the biggest jerks you've ever worked for," he said. None of the boomers I talked to was in favor of people calling out of work willy-nilly.

Persons: Ron Sherman, Sherman, Gen, youngs, wasn't, Zoomers, who's, they're, It's, millennials, David Johnston, Johnston, You've, he'd, There's, Dave Kotwitz, Kotwitz, Charlie Stuart, He'd, David Vequist, Paul Miola, Miola, boomer, Xers, Chris Woods, they'd, Woods, that's, willy, nilly, it's, you'd, Emily Stewart Organizations: American, Silvis, Business Locations: Wisconsin, Texas, Charlotte , North Carolina

SHENZHEN, China — Chinese vendor Yin Xinwei sometimes makes close to $1,400 a day selling low-priced pill boxes, barbecue spits and other items to U.S. online consumers. Each year hundreds of millions of packages, mostly from Chinese platforms, are sent directly to American consumers eager to take advantage of rock-bottom prices on clothing, electronics and other products. That could mean painful times ahead for the Chinese sellers that supply the platforms — and higher prices for American consumers. Chinese state media has criticized the proposal as protectionist and say it will hurt American consumers. Yin used to sell to Chinese consumers but has given up his domestic business to focus entirely on the overseas market.

Persons: Yin, ”, ” Yin, David Townsend, Dorsey, Trump, Biden, ” Townsend, Temu, “, Jacky Lu, Shein, Eunice Yoon, Jennifer Jett Organizations: CNBC, Whitney, PDD Holdings, White, U.S . Customs, U.S Locations: SHENZHEN, China, Shenzhen, United States, U.S, Singapore, Boston, Hong Kong, Europe, “

☆ China central bank releases slate of support measures amid a deepening economic slump
▼ + stars: | 2024-09-24 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +6 min

Lynn Song, chief economist for greater China ING, called the repo rate cut announcement “the most important” move made during the news conference. “If we see a large fiscal policy push as well, momentum could recover heading into the fourth quarter.”The headquarters of the People’s Bank of China in Beijing. During his first news conference as central bank governor in January, Pan said the PBOC would cut the reserve requirement ratio. Unlike the Fed’s focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy. Pan has indicated he would like the 7-day rate to become the main policy rate.

Persons: Pan Gongsheng, Pan, Lynn Song, ”, “, Jiang Qiming, ” Edmund Goh, Goldman Sachs, Li Yunze, Li, Nomura Organizations: People’s Bank of China Gov, China ING, “, U.S . Federal Reserve, People’s Bank of China, China News Service, Getty, Pan, National Financial Regulatory Administration Locations: BEIJING, China, Beijing, abrdn

☆ Even millennials are getting too old to land a tech job
▼ + stars: | 2024-09-23 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +8 min

Newly released federal data shows the US tech workforce is younger than the workforce at large and getting younger still. Tech workers under 25 are becoming more common, while the proportion of workers older than 40 shrinks. There's an age-old perception that tech workers should be young so they can move fast and break things. One of the top qualifications to land a tech job, it seems, is to possess a birth certificate dated after 1990. Women make up just 22% of tech workers — the same proportion of jobs they held in 2005.

Persons: Z, Mark Zuckerberg, Maureen Clough, antiaging serums, Joanna Lahey, Lahey, ageism, John Zeman, Elon Musk, Zeman, John Rizzo, Rizzo, X, Daniel Jolles, Jolles, they're, Amanda Hoover Organizations: Tech, Commission, Texas, M University, Twitter, IBM, The London School of Economics, Business Locations: Silicon Valley, China

BEIJING — Many of Apple’s affluent iPhone users in China are just as interested in Huawei’s pricier trifold phone, CNBC found during spot checks at stores Friday, the day the iPhone 16 and Mate XT launched in the country. The iPhone 16 Pro Max starts at $1,199, and the iPhone 16 at $799. Huawei’s trifold Mate XT starts at the equivalent of more than $2,800. The Apple iPhone 16 Pro Max was selling for 10,500 yuan to 16,300 yuan, the site showed. He said he bought the iPhone 16 because he heard its battery lasted longer, but was willing to wait for the iPhone 17 for any artificial intelligence features.

Persons: pricier, Max, Huawei’s, Yang, Wang, hadn’t Organizations: CNBC, XT, Huawei, Apple, People, Mate Locations: BEIJING, China, . U.S, Beijing, Hefei, Shanghai

☆ The Stretch Limo, Once a Luxury Transportation Option, Is Dead
▼ + stars: | 2024-09-19 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

It used to be that you saw a stretch limousine and excitedly wondered who was inside — maybe a corporate executive or a celebrity or some other classy, mysterious type. The limo industry isn't dead; it's just leaving the classic black stretch version of itself behind. Trade shows and expos for limousines and luxury transportation no longer have many, if any, actual classic stretch limos on their floors. He said they keep a stretch limo around for nostalgia's sake more than anything. A CEO gallivanting around in his or her fancy stretch limousine is gross.

Persons: They've, Joe Reinhardt, He's, they're, Brett Barenholtz, Michael Douglas, Richard Gere, Mercedes, van, Scott Michael, Robert Alexander, Alexander, promgoers, Barenholtz, It's, Reinhardt, Chris Weiss, hasn't, crouch, Weiss, " Weiss, Emily Stewart Organizations: We're, Carolina Limousine, CLC Worldwide, National Limousine Association, Consumers, Benz Sprinter, United Motorcoach Association, RMA, Trade, expos, Cadillac, Lincoln, Facebook, Mercedes, ABC, NLA, Business Locations: Myrtle Beach, South Carolina, Maine, Boston, —, Washington , DC, California, New York, limos, Franken, It's

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