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☆ China's Alibaba releases AI search tool for small businesses in Europe and the Americas
▼ + stars: | 2024-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Alibaba International promotes its e-commerce platform for small businesses at the Canton Fair in Guangdong, China, on Oct. 16, 2024. BEIJING — Chinese e-commerce giant Alibaba on Tuesday unveiled an artificial intelligence-powered search engine for small businesses in Europe and the Americas to source supplies. Initial tests showed businesses' purchase intent using the new tool increased by 40% versus traditional search engines, according to Kuo Zhang, president of Alibaba.com and vice president of Alibaba International. The initial version is web-based and supports English, German, French, Portuguese and Spanish, according to the company. At the end of the search, the tool lists a number of procurement options for the business to discuss directly with each supplier.

Persons: Kuo Zhang, Alibaba.com, Harry Potter Organizations: Alibaba, Fair, Alibaba International, CNBC Locations: Guangdong, China, BEIJING, Europe, Americas

☆ Stocks making the biggest moves premarket: Shopify, Home Depot, Live Nation Entertainment and more
▼ + stars: | 2024-11-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Live Nation Entertainment — Shares jumped 5% after the live music and entertainment company posted an earnings beat for the third quarter. Twilio — Shares moved 1.7% higher following an upgrade at Wells Fargo to overweight from equal weight. IAC — Shares rose 3% on news that IAC its weighing a spinoff of home improvement marketplace Angi. Shares rose more than 4% last week on the heels of the president-elect's victory. SentinelOne — Shares rose 1.6% after Deutsche Bank upgraded shares to buy from hold, saying the July outage related to CrowdStrike can help add to SentinelOne's momentum.

Persons: Elliott, Twilio, bitcoin, Robinhood, Microstrategy, Okta, — CNBC's Hakyung Kim, Michelle Fox, Lisa Han, Sarah Min, Jesse Pound Organizations: Honeywell —, Elliott Management, Honeywell, Aerospace, Automation, IAC, Trump Media & Technology, Deutsche Bank Locations: Wells

☆ China's biggest shopping event of the year exceeds low expectations
▼ + stars: | 2024-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's Singles' Day shopping festival saw consumers spend more than expected in what has otherwise been a tepid retail environment, consulting executives told CNBC. "I do think for many brands it probably will have turned out a bit better than they thought, but on a low level. Probably nobody would say we hit it out of the ballpark," said Chris Reitermann, CEO of Ogilvy APAC and Greater China. Many multinational corporations that sell consumer products in China are more cautious on the market, if not struggling, Reitermann said. But he pointed out many of the companies are still "very profitable" in the country, even if their growth has slowed to the low single digits, instead of high double digits.

Persons: Major, Chris Reitermann, Ogilvy APAC, Reitermann, Alibaba, JD.com Organizations: BEIJING, CNBC, WPP China Locations: Greater China, China, GMV

☆ SoftBank posts blowout quarterly gains at Vision Fund tech arm
▼ + stars: | 2024-11-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

The broader Vision Fund segment as a whole, which also factors in non-investment performance such as administrative expenses and gains and losses attributable to third-party investors, reported a gain of 373.1 billion yen. It had declared a loss of 204.3 billion yen in the company's first fiscal quarter. The Vision Fund has been cashing in on the success of the September 2023 listing of smartphone chip designer Arm Holdings , in which it owns a sweeping majority stake of around 90%. The group's print benefitted from investment gains of 1.28 trillion yen on shares of Chinese retail giant Alibaba and of 566.2 billion yen on stock of T-Mobile. On Tuesday, it said it had repurchased a cumulative 153.8 billion yen in shares by the end of the second quarter.

Persons: Toru Hanai, Didi, Son, Elliott Organizations: SoftBank Corp, SoftBank Group Corp, Bloomberg, Getty, Vision Fund, Arm Holdings, Nvidia, Yahoo, SoftBank, Mobile, Elliott Management, CNBC, Barclays Locations: Tokyo, Japan, Norwegian, Mobile . Tokyo, SoftBank

☆ TikTok and its owner ramped up their hiring from China, even as Congress raised national security concerns
▼ + stars: | 2024-11-12 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

669 of the 1,089 approved US H-1B hires for TikTok and ByteDance in that fiscal year were from China. The hiring occurred as US officials raised concerns about TikTok's ties to China. Only 12% of all approved fiscal year 2023 H-1B applications were for Chinese nationals, compared to 61% of TikTok and ByteDance's approved applications. AdvertisementEven as TikTok has taken steps to downplay its association with China, its owner, ByteDance, continues to operate in the US. The company has also used TikTok's Chinese sister app, Douyin, as a testing ground for features that ultimately end up on TikTok.

Persons: —, ByteDance, US Sen, Tom Cotton, Cotton, Alejandro Mayorkas, ByteDance's, China TikTok, TikTok, Trump Organizations: TikTok, Service, Companies, Citizenship, Immigration Services, Business, US Data Security, Chinese Communist Party, US, Homeland, India, National Intelligence Locations: China, Beijing, ByteDance, California, Taiwan, Canada, Vietnam

☆ Shopify stock skyrockets 25% on revenue beat, rosy holiday forecast
▼ + stars: | 2024-11-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Shopify shares popped more than 25% in Tuesday morning trading after the Canadian e-commerce company posted better-than-expected revenue for the third quarter and gave an optimistic forecast for the holiday shopping season. Revenue: $2.16 billion vs. $2.12 billion expected by LSEGShopify said it expects revenue in the current quarter to grow at at a percentage in the mid- to high-twenties. That surpassed Wall Street's expectations of 22.8% for revenue growth, according to FactSet. Shopify sells software for merchants who run online businesses as well as services such as advertising and payment processing tools. Shopify shares are up about 45% year to date.

Persons: LSEG Shopify, FactSet, Gross, Harley Finkelstein, Vera Bradley, Hanes, Finkelstein, Jeff Hoffmeister Organizations: Walmart, Lionsgate Entertainment, Reebok, Nasdaq

☆ 9+ Best Early Home Depot Black Friday Deals 2024
▼ + stars: | 2024-11-11 | by ( Cory Fernandez | Cory Fernandez Is A Commerce Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +6 min

While Black Friday is still a couple weeks aways, many retailers, including Home Depot, are already discounting tons of bestselling products from major brands, giving you early access to its holiday deals. I regularly cover deals at popular home and kitchen retailers so I know what brands are actually worth investing in and what makes a good sale. Below, I rounded up the best early Black Friday deals at Home Depot and will continue to update this list through the entirety of the sale. SKIP AHEAD The best early Black Friday sales at Home Depot | Why trust NBC Select? The best early Black Friday sales at Home DepotAll of the items below have at least a 4-star average rating from 500 reviews or more at Home Depot, or are NBC Select editor recommendations or are products from our previous coverage.

Persons: I’ve, Dyson, TikTok Organizations: Home, NBC, Shark, Dyson, AA, Facebook, Twitter

SKIP AHEAD Best eco-friendly laundry detergents | How to shop for eco-friendly laundry detergent | Why trust NBC Select? How I picked the best eco-friendly laundry detergentsTo highlight the best eco-friendly laundry detergents, I spoke with cleaning and laundry experts. The best eco-friendly laundry detergentsWith expert guidance in mind, this list includes eco-friendly laundry detergents that meet the EPA’s Safer Choice Standard, earned the EWG Verified mark or both. How to shop for eco-friendly laundry detergentShopping for eco-friendly laundry detergent involves many of the same considerations you’ll want to make when purchasing any type of laundry detergent. Though any ecolabel is a good option, experts primarily recommend looking for the following two when shopping for eco-friendly laundry detergent.

Persons: They’re, Sarah Paiji Yoo, Paiji Yoo, Marilee Nelson, Nelson, Carlyanne Brown, Brown, ”, ecolabels, ecolabel, “, ” It’s, Malin, Cory Fernandez Organizations: NBC, U.S . Environmental Protection Agency, EPA, Dirty, Environmental, Grove, PVA, Facebook, Twitter

Trump allies are discussing deportation and detention options, with tackling the US-Mexico border seen as a priority from Day 1. But advocates fear deportation plans will soon reach deeper into American communities, targeting people who they say have a right to live here. Supporters of then-Republican presidential candidate Donald Trump gather outside Shelby Park in Eagle Pass, Texas, on February 29, 2024, the day Trump visits the U.S.-Mexico border at Eagle Pass. Kena Betancur/AFP/Getty ImagesIn the urban heart of New York City, where thousands of migrants and asylum seekers have stretched local resources, some houses of worship are preparing to shift their missions. But Murad Awawdeh, president of the New York Immigration Coalition, warned that sanctuary laws won’t stop federal immigration agencies from doing what they want.

Persons: Donald Trump’s, Donald Trump, ”, Juan Proaño, Lee Gelernt, ” Mary Meg McCarthy, ’ Cesar Espinosa, he’s, “, Espinosa, Go Nakamura, Jorge Rivas ’, MAGA, Betty . Rivas, Shannon Douglass, Mario Tama, Betancur, Chloe Breyer, Trump, Eric Adams ’, Manuel Castro, Murad Awawdeh, ” Awawdeh, “ They’ve, Adrees Latif, Jose Luis Gonzalez, Jim Desmond, JD Vance, Desmond, ” Kenia, “ It’s, it’s, Los Angeles Mayor Karen Bass, —, Guillermo Arias, Jose Luis Perez Canchola, ” Perez Canchola, Isabel Turcios, CNN’s Priscilla Alvarez Organizations: CNN — Immigrants, Trump, CNN, League, United Latin American Citizens, American Civil Liberties Union, Immigrant Justice Center, Republican, U.S, Reuters, Getty, Interfaith, of New, New York Immigration Coalition, Federal, Customs, Border Protection, Immigration, Department of Homeland Security, Reuters U.S . Border Patrol, San Diego, of Supervisors, Patrol, San Diego Regional Chamber of Commerce, University of Southern, Los Angeles Mayor, Los Angeles Unified School District, DHS, ONE Locations: Mexico, United States, —, Shelby, Eagle Pass , Texas, Eagle, Catalina , Arizona, Tucson, El Salvador, California, Coachella , California, New York, Queens, AFP, New York City, of New York, ”, China, Turkey, Jacumba, Springs , California, Reuters U.S, Sunland Park , New Mexico, San Diego, San, San Diego County, Los Angeles, University of Southern California, LA county, Juventud, Tijuana, Baja California, Tijuana , Mexico, Piedras Negras, Mexican, Rio, Frontera

☆ It’s easier than you might think for teens to buy restricted e-cigarette devices online
▼ + stars: | 2024-11-11 | by ( Sam Tupper | ) edition.cnn.com time to read: +4 min

CNN —Although sales of tobacco products have been restricted in hundreds of municipalities across the US, a new study is highlighting some loopholes that allow children to bypass online regulations to buy e-cigarettes. Though the sales of flavored tobacco products have been restricted in eight states and in nearly 400 cities or counties, these regulations don’t completely cover e-commerce or online shopping. “People will not tell the truth when they enter their age, and it’s remarkably easy for kids to get tobacco products mailed to them. More than 1 in 4 underage people report using e-cigarettes daily, and most youth who use e-cigarettes favor flavored products. “Prohibiting tobacco sales completely, or states putting some more restrictions on how the products are delivered to people, can help make e-cigarettes harder to purchase,” he said.

Persons: ”, Thomas Carr, Carr, Dr, Sanjay Gupta, ” Carr Organizations: CNN, Tobacco Survey, Children, United States Postal Service, JAMA, USPS, American Lung Association, ” Tobacco, Food and Drug Administration, Tobacco Control, CNN Health, American Academy of Pediatrics, FDA

Here's what needs to go right for Intel, the only US-based manufacturer of powerful chips. AdvertisementUS policymakers are still betting that Intel is the nation's best shot at manufacturing chips. Intel needs to balance the booksIntel plans to spin out its semiconductor manufacturing business into an independent subsidiary called Intel Foundry, separating the manufacturing process from its chip-design business. Not everyone is convinced that government intervention will help Intel get back on track in chip manufacturing. The report said they also discussed a potential merger between the company's chip design business and a competitor like AMD or Marvell.

Persons: —, Dow, It's, they're, Alistair Barr, Stacy Rasgon, Patrick Moorhead, Moorhead, they've, Logan Purk, Edward Jones, Dan Morgan, Pat Gelsinger, Morgan, Rasgon, Daniel Newman, hasn't, Newman, Gina Raimondo, Donald, it's, Mark Warner, Semafor Organizations: Wall Street, Intel, Service, Dow Jones, Nvidia, Business, Qualcomm, AMD, Dow, Bernstein Research, TSMC, Intel Foundry, Synovus, Futurum Group, Act, Google, Microsoft, Apple, New York Times, Commerce Department, Sen, Marvell, Warner Locations: Taiwan, Washington

☆ Weaker Chinese consumer sentiment weighs on 11.11 sales festival
▼ + stars: | 2024-11-11 | 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 EmailWeaker Chinese consumer sentiment weighs on 11.11 sales festivalMore companies in China are opting out of discounts during major shopping festivals in favor of steadier year-round sales. However, Chinese consumer confidence has not fully recovered, with consumers trading down and waiting for shopping events to spend. This pushes e-commerce platforms to partner up to boost sales.

Locations: China

☆ White House races to dole out funding from key legislation before Trump takes office
▼ + stars: | 2024-11-11 | by ( Arlette Saenz | ) edition.cnn.com time to read: +8 min

CNN —The White House is racing to dole out remaining funds appropriated from key legislation President Joe Biden signed before President-elect Donald Trump takes office in 10 weeks. The implementation efforts reflect one slice of how the Biden administration is working to shore up key initiatives as the second Trump presidency approaches. Speaking to reporters on Monday, the first official day at COP29, Podesta said the Biden administration is “fully committed” to obligating outstanding funding under Biden’s climate law, the Inflation Reduction Act. About $103 billion in Inflation Reduction Act funding, which makes up 92% of the law’s total, has been announced as of late October. While Trump has criticized the CHIPS legislation as “so bad,” it has enjoyed bipartisan support because the plans could create jobs and infuse money into local communities.

Persons: Joe Biden, Donald Trump, Biden, Trump, ramping, White, Natalie Quillian, “, ”, ” Quillian, John Podesta, Podesta, it’s, ” “, Andrew Harnik, Mike Johnson, he’d, Betsy Klein, Ella Nilsen Organizations: CNN, Commerce Department, Law, White House, White, UN, Act, House Republicans, American, Congress, Trump, Semiconductor, The Commerce Department, Polar Semiconductor, Intel, Micron Technology, Samsung, Taiwan Semiconductor Manufacturing Company, Commerce, Louisiana Republican Locations: Ukraine, America, Baku, Azerbaijan, COP29, ”, Washington , DC, New York, Corning, Pennsylvania, Minnesota, Louisiana

☆ Why Ralph Lauren, the all-American luxury brand, is a hit in China
▼ + stars: | 2024-11-10 | by ( Maria Noyen | ) www.businessinsider.com time to read: +7 min

Classic luxury, which Ralph Lauren encapsulates, is resonating with Chinese consumers. "I've said it before but it bears repeating in a volatile environment, Ralph Lauren is firmly on offense," Patrice Louvet, the CEO of Ralph Lauren, said on a conference call with analysts on Thursday. Ralph Lauren classics like Polo shirts and cable-knit sweaters are a hit with Chinese consumers. Ralph Lauren targets Chinese consumers in six key cities and on local Chinese social media platforms. Sebastian Ng/SOPA Images/LightRocket via Getty ImagesWith its brick-and-mortar stores, Ralph Lauren has prospered by doing more with less.

Persons: Ralph Lauren, —, Ralph Lauren's, I've, Patrice Louvet, Xi Jinping's, Neil Saunders, Edward Berthelot, Martin, Louvet, Ralph Lauren doesn't, Zers, Sebastian Ng, Olivia Plotnick, Roll, Donald Trump's, It's Organizations: Service, New, GlobalData, McKinsey, Getty, Wai, China Locations: Asia, China, New York City, China China, Tokyo, Seoul, Shanghai, Milan, China —, Beijing, Chengdu

☆ A shadow ‘financial crisis’ has cost the world $2 trillion
▼ + stars: | 2024-11-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

That’s a lot of damage – but it’s only a small fraction of what climate change has cost people around the world. A new report is flashing a warning signal about climate change and natural disasters, finding that their total economic damage has skyrocketed into the trillions. “Just as the global financial crisis was met with a swift and concerted response from world leaders, we need governments to understand that the economic impact of climate change necessitates a response of similar speed and decisiveness,” said John W.H. Trump has promised to undo climate regulations in the country, including rolling back pollution limits on tailpipes and power plants. Separate data released last week by Europe’s Copernicus Climate Change Service confirms that the world will likely surpass a grim milestone this year: 2024 is likely to be the hottest year on record.

Persons: Hurricane Helene, Hurricane, ”, John W.H, Denton AO, Donald Trump, Trump, ” Denton, Europe’s Copernicus Organizations: CNN, International Chamber of Commerce, United Nations, ICC Locations: Hurricane, Hurricane Milton, CoreLogic, Azerbaijan, Paris

☆ 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

☆ U.S. ordered TSMC to halt shipments to China of chips used in AI applications, source says
▼ + stars: | 2024-11-10 | by ( ) www.cnbc.com time to read: +1 min

The Department of Commerce sent a letter to TSMC imposing export restrictions on certain sophisticated chips, of 7 nanometer or more advanced designs, destined for China that power AI accelerator and graphics processing units (GPU), the person said. The U.S. order, which is being reported for the first time, comes just weeks after TSMC notified the Commerce Department that one of its chips had been found in a Huawei AI processor, as Reuters reported last month. Tech research firm Tech Insights had taken apart the product, revealing the TSMC chip and apparent violation of export controls. TSMC suspended shipments to China-based chip designer Sophgo after its chip matched the one found on the Huawei AI processor, sources told Reuters last month. Reuters could not determine how the chip ended up on Huawei's Ascend 910B, released in 2022, viewed as the most advanced AI chip available from a Chinese company.

Persons: TSMC, Sophgo Organizations: Taiwan Semiconductor Manufacturing Co, of Commerce, Commerce Department, Huawei, Reuters, Tech Locations: Krakow, Poland, China, U.S

☆ Kmart has all but disappeared from the US. But its Australian namesake is booming.
▼ + stars: | 2024-11-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementThe closure of a Kmart store in Bridgehampton, New York, in October marked the end of an era for the iconic chain. Now, just one Kmart store remains in the mainland US, tucked away inside an At Home store in southwest Miami. "We see this in things such as Kmart hacks," where creators showcase how they use Kmart products in novel ways to help in their everyday lives, Lloyd-Wallis said. A race to the bottomSo far, Kmart Australia has weathered the e-commerce storm, in part thanks to the geographical challenges companies like Amazon face in Australia. It seems, then, that Kmart Australia could find itself in a price race to the bottom.

Persons: —, Gary Mortimer, Mortimer, They've, Ian Bailey, it's, Bailey, we've, Anastasia Lloyd, Wallis, news.com.au, Roy Morgan, Laura Demasi, Roy Morgan's Organizations: Kmart, Service, Walmart, Target, Kmart Group, Queensland University of Technology, National Retail Federation, Kmart Australia, Getty, Retail Doctor Group, Lloyd, Amazon Australia Locations: Australia, Bridgehampton , New York, Miami, Australian, Melbourne, New Zealand, Target Australia, Canada, Singapore, Philippines, Sydney, Kmart Australia

☆ Basketball is having a moment, and that's good news for Nike
▼ + stars: | 2024-11-09 | by ( Jordan Hart | ) www.businessinsider.com time to read: +6 min

Nike recently signed a 12-year deal with the NBA, WNBA, and NBA G League. AdvertisementNike is deepening its partnerships with the NBA and WNBA as basketball explodes in popularity in 2024. That's good news for the company as it tries to get back to its sports roots and reinvigorate sales — and as women's basketball becomes increasingly popular. The sportswear giant announced in October that it signed a 12-year agreement with the NBA, WNBA, and NBA G League to be the exclusive uniform and apparel provider for each league. While Nike started as a running brand, its business has historically been linked with basketball after a 1984 collaboration with Michael Jordan.

Persons: Rachel Wolff, —, John Donahoe, Elliott Hill, Michael Jordan, Jordan Brand, Hill, Sue Bird, Kevin Durant, Jayson Tatum, Nike execs, Adam Silver, Nike It's, Goldman Sachs, Nike's, Caitlin Clark, Simeon Siegel, Siegel, Nike, execs, EMARKETER's Wolff, Wolff Organizations: Nike, NBA, WNBA, NBA G League, Service, Paris Olympics, NCAA, Nielsen, ESPN, G League, Adidas, Bloomberg, Business, Street, BMO Capital Markets, BI, BMO Locations: California, Portland , Oregon, Toronto, EMARKETER

☆ Cramer's week ahead: Earnings from Home Depot, Disney and new CPI data
▼ + stars: | 2024-11-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday identified what to look out for next week on Wall Street, highlighting earnings from Home Depot , Disney and new consumer price index data from the Labor Department. Cramer also reflected on the Trump-fueled market rally over the past few days, saying there are likely more gains to come. Tuesday has more action, with earnings from Home Depot, Shopify , Tyson Foods and Spotify . Because Tyson Foods is a major meat seller, Cramer said investors can learn a lot about grocery pricing from the company's earnings commentary. Cramer added that some believe there's weak demand in the semiconductor capital equipment sector, but he said it's possible an earnings report from Applied Materials could "change that dynamic."

Persons: CNBC's Jim Cramer, Cramer, Tyson, Shopify, he's Organizations: Home Depot, Disney, Labor Department, Trump, Home, Tyson Foods, Spotify, Federal, Cisco Locations: Shopify

☆ TSMC is reportedly suspending production of advanced AI chips for Chinese firms
▼ + stars: | 2024-11-08 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

TSMC will stop providing Chinese customers with some of its most advanced AI chips, per reports. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTaiwan Semiconductor Manufacturing Company has informed its Chinese customers that it will stop supplying them with its most advanced artificial intelligence chips, according to multiple reports. The policy is part of a number of sanctions and export controls aimed at restricting Chinese firms' access to advanced technologies in the interests of national security. AdvertisementNews of TSMC suspending production was first reported by Chinese media site ijiwei.com.

Persons: —, TSMC, Biden, Donald Trump Organizations: Service, Taiwan Semiconductor Manufacturing Company, Baidu, Nvidia, Huawei Technologies, US Commerce Department, US, Reuters, Trump Locations: Washington, China

☆ In leaked internal meeting, Amazon retail chief says sales of cheaper items are surging
▼ + stars: | 2024-11-07 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon's sales of cheap items are surging, driven by faster delivery speeds, executive says. Over 50% of those everyday essentials are now delivered on the same or next day, he added. "And these are especially the low-priced everyday essentials, the things that most households purchase every week." The goal has been to not only speed up deliveries, but also make it less expensive for the company to offer faster delivery. 'Real positive'During last month's analyst call, Jassy added that the growth of cheaper items is a "real positive" because it is predicated on faster delivery speeds.

Persons: —, Doug Herrington, Herrington, Amazon's, Andy Jassy, Jassy, Brian Olsavsky, Mark Mahaney, Mahaney Organizations: Service, Business, Reuters, Amazon, HH

☆ AppLovin, top tech stock of the year, soars another 45% on earnings beat
▼ + stars: | 2024-11-07 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

AppLovin shares soared 45% on Thursday after the online gaming and advertising company issued guidance that was well above estimates and reported better-than-expected earnings and revenue. For the fourth quarter, AppLovin sees revenue of $1.24 billion to $1.26 billion, representing growth of about 31% at the middle of the range. The company said software platform revenue in the quarter increased 66% to $835 million, driven by improvements in AXON's models. Net income in the quarter increased 300% to $434.4 million, or $1.25 a share, from $108.6 million, or 30 cents a share, a year earlier. "AppLovin continues to impress with outsized revenue growth and incredible EBITDA conversion," analysts at Wedbush wrote in a report on Thursday.

Persons: It's, AppLovin, Wedbush, Adam Foroughi, it's, Foroughi, CNBC's CJ Haddad, Unity Organizations: Revenue

☆ Democrats need to reevaluate voter outreach: former U.S. assistant secretary
▼ + stars: | 2024-11-07 | 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 EmailDemocratic Party needs to reevaluate how it reaches out to voters: former U.S. assistant secretaryAlejandra Castillo, former U.S. assistant secretary of commerce for economic development, says the Democratic Party needs to take stock and do more to address the day-to-day concerns of Americans.

Persons: Alejandra Castillo Organizations: Email Democratic Party, Democratic Party Locations: U.S

☆ Why Gen Z college grads are feeling increasingly pessimistic about entering the workforce
▼ + stars: | 2024-11-07 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

More than half of college seniors feel pessimistic about joining the workforce, per a Handshake survey. First-time job seekers told BI they're seeking stability in their careers. AdvertisementAmid a dwindling pool of entry-level positions and ongoing layoffs in once seemingly foolproof fields, Gen Z college grads are feeling uneasy about starting their professional lives. The 21-year-old told BI that she is regularly casing career fairs and updating her portfolio with new projects to stand out come spring. She told BI she likes her work but wishes she made more than her $40,000 salary.

Persons: Z, —, Insider's Aki Ito, Hiba Rizvi, Rizvi, they're, Christine Cruzvergara, Cruzvergara, Goldman Sachs, Sasha Friese, Friese, she'll, I've Organizations: Service, Loyola University Chicago, Big Tech, Washington Post, Commerce Department, University, Washington, BI, University of San Locations: San Diego, University of San Diego

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