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☆ Justice Department accuses Visa of debit network monopoly that affects price of ‘nearly everything’
▼ + stars: | 2024-09-24 | by ( Hugh Son | ) www.nbcnews.com time to read: +2 min

The U.S. Justice Department on Tuesday sued Visa, the world’s biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on partners and smothering upstart firms. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service,” Garland said. They are essentially toll collectors, shuffling payments between the merchants’ banks and cardholders. ″Visa wields its dominance, enormous scale, and centrality to the debit ecosystem to impose a web of exclusionary agreements on merchants and banks,” the DOJ said in its release. “These agreements penalize Visa’s customers who route transactions to a different debit network or alternative payment system.”This is a developing story.

Persons: monopolization, “, General Merrick Garland, ” Garland Organizations: U.S . Justice, Visa, DOJ, “, MasterCard, fintech, Plaid, Mastercard Locations: New York, U.S

☆ Ryan Murphy defends Menendez brothers Netflix series after Erik Menendez blasts it as 'blatant lies'
▼ + stars: | 2024-09-24 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

Ryan Murphy, the creator of “Monsters: The Lyle and Erik Menendez Story,” is defending the new Netflix series after it was harshly criticized by one of the brothers. Erik Menendez slammed the series, released Sept. 19 on Netflix, as "blatant lies" and called the portrayal of his brother Lyle "ruinous" in a statement from prison released by his wife. Brothers Joseph “Lyle” Menendez, now 56, and Erik Menendez, now 53, were convicted in their parents' murders in 1996 after two trials, and sentenced to life in prison without parole. Ryan Murphy on Monday responded to the backlash from Erik Menendez, telling E! In his Sept. 19 statement, Erik Menendez said: “I believed we had moved beyond the lies and ruinous character portrayals of Lyle, creating a caricature of Lyle rooted in horrible and blatant lies rampant in the show.

Persons: Ryan Murphy, Lyle, Erik Menendez, ”, Jose, Kitty Menendez, Brothers Joseph “ Lyle ” Menendez, hasn’t, Cooper Koch, ” Murphy, Jeffrey Dahmer, “, who’s, that’s, ” Erik Menendez, Lyle Menendez, Vince Bucci, Erik, he's, “ I’m, ‘, ’ ” Organizations: Netflix, Beverly Hills, Getty, Prosecutors Locations: Beverly, California, Los Angeles, AFP

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, “

☆ Muğla: A beautiful but overlooked corner of the Mediterranean
▼ + stars: | 2024-09-24 | by ( Richard Quest | Joe Minihane | ) edition.cnn.com time to read: +7 min

Situated in the destination’s stunning southwest, it’s a region that, beyond a few hot spot destinations like Bodrum, is sometimes overlooked by international visitors. An artist’s viewThe best place to start is the sunny seaside town of Göcek, located between Fethiye and Dalyan. ‘The good life’Tourists flock to Dalyan's mud baths to rejuvenate their skin. And that’s where Dalyan’s mud baths come in. The endless views, the blues of the sea and the whites of the beaches help make it a magnificent experience.

Persons: it’s, Dilara Akay, ” Akay, “, ”, Kenan Olgun, Kate Clow, Alexander the Great, Clow, shirk, ‘, Murad Sezer, Sergey Alimov, King Miletus, Byblis, Caunus, Ali Riza Akkir, I’ve, Ertas Organizations: CNN, Bodrum’s, Akay, “, Tourists, Reuters, Anadolu Agency, Getty Locations: Muğla Province, it’s, Turkey, Göcek, Fethiye, Muğla, Aegean, Egypt, Hammam, Antalya, Lycia, “ Turkey, France, Spain, ‘ Turkey, Rivers, Kaunos

☆ U.S. to send troops to be ready to help evacuate U.S. citizens from Lebanon
▼ + stars: | 2024-09-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +5 min

On Monday, Israel dramatically expanded its aerial assaults on Lebanon with airstrikes that killed nearly 500 people and wounded more than 1,600. Israeli Prime Minister Benjamin Netanyahu’s government has warned of coming military strikes, but Israeli officials have not told U.S. officials whether or when a ground offensive could begin, the three defense officials said. The officials estimate a large offensive into southern Lebanon would take thousands more troops and armored vehicles, in addition to forces to hold any territory. In addition to tens of thousands of U.S. troops in the region, the Biden administration is considering options to send other military assets to the region. The conflict between Israel and Hezbollah could dash already dwindling hopes for a cease-fire deal and hostage exchange with Hamas.

Persons: Pat Ryder, “, Mahmoud Zayyat, Biden, Israel ratcheted, Benjamin Netanyahu’s, Harry S, Truman, Abraham Lincoln, Joe Biden, Assembly’s, Netanyahu Organizations: Defense Department, Hezbollah, Hamas, Pentagon, Getty Images Biden, Israeli, U.S, United Nations, Assembly Locations: Israel, Lebanon, U.S, Lebanese, Zaita, AFP, Gaza, Norfolk , Virginia, Europe, New York

☆ Astronomers spot the most massive black hole jets ever observed
▼ + stars: | 2024-09-24 | by ( Ashley Strickland | ) edition.cnn.com time to read: +10 min

CNN —Astronomers have observed a massive pair of jets releasing from a supermassive black hole 7.5 billion light-years from Earth. The megastructure spans 23 million light-years in length, making these black hole jets the largest ever seen, according to new research. Black hole jets can accelerate radiation and particles close to the speed of light, causing them to glow in wavelengths visible to radio telescopes. The massive black hole jets could help answer both. Martijn Oei (pictured), lead author of the new study, and his colleagues will continue their search for massive black hole jets.

Persons: Martijn Oei, ” Oei, Europe’s, Oei, “, Aivin Gast, Gast, LOFAR, “ Aivin, Porphyrion, NASA's, Powell, Nelson, Martin Hardcastle, Sasha Tchekhovskoy, ”, Tchekhovskoy Organizations: CNN —, California Institute of Technology, Astrophysics, University of Oxford, NASA, JPL, Caltech, CNN, Keck, NASA's Goddard, University of Hertfordshire, Northwestern University Locations: India, Hawaii, England

☆ Nvidia leads list of 10-bagger stocks the last five years. But be careful
▼ + stars: | 2024-09-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Nvidia is the latest poster child on Wall Street for "10 baggers," stocks that soar in price 10 times. But the AI chipmaker's path to " 10-bagger " status included what is also a typical slump (or two) along the way, according to Trivariate Research. To find the 84 stocks, Parker looked for names with market capitalizations over $2 billion and average daily trading volume of at least $30 million. He then screened for stocks that achieved 10-bagger status, and further culled the list to only those that accomplished the feat in the past 25 years. The chart below contains the names that achieved 10-bagger status most recently, along with information on their drawdowns.

Persons: Morgan Stanley, Adam Parker, Parker, Trivariate, they've, Jensen Huang, Tesla Organizations: Nvidia, Research

☆ Milan Fashion Week highlights: A surprise drop-in from Madonna and an ‘anything goes’ attitude
▼ + stars: | 2024-09-24 | by ( Scarlett Conlon | ) edition.cnn.com time to read: +12 min

Vittorio Zunino Celotto/Getty ImagesCreative director Mattieu Blazy said “it’s like that first day at school when (you arrive) looking impeccable and you come back at the end of the day crumpled.” Vittorio Zunino Celotto/Getty ImagesPerfectly imperfectHigh octane glamour was dialled right down, too. Blouses also popped up at Marni, N°21 and Bottega Veneta — ranging from clean cut, office-ready designs to the more flouncy and feminine. Vittorio Zunino Celotto/Getty ImagesPointe shoes were reimagined as thong sandals. Vittorio Zunino Celotto/Getty ImagesElsewhere at Fendi, soft, bathrobe-like gowns — much like the one recently worn by Rihanna — were worn with sheer embroidered socks. Vittorio Zunino Celotto/Getty ImagesMiuccia Prada told the press she was "very very nervous” about presenting this collection.

Persons: Milan, Miuccia Prada, Prada, Max Mara’s, Max Mara, Ian Griffiths, ”, Maximillian Davis, Matthieu Blazy, Vittorio Zunino Celotto, Mattieu Blazy, “, Kim Jones, chunky, Kate Moss, Kate, Gucci’s Sabato de Sarno, Normcore, she’s, Peter Pan, Jil Sander, Lucie, Luke Meier, chinoiserie, you’ll, Francesco Risso’s, Alessandro Dell’Acqua, ord, Versace, Donatella, Madonna, philes, Jean, Paul Gaultier, Gaultier, Rachpoot, Bauer, Griffin, Domenico Dolce, Stefano Gabbana, Julianne Moore, Jacob Elordi, Kendall Jenner, Michelle Yeoh —, Steven Spielberg’s, E.T, Blazy, Jacopo M, Donatella Versace, Jonas Gustavsson, Maximilian Davis, Victor Virgile, Prada Sabato, Daniele Venturelli, Karen Elson, Roberto Cavalli, Piovanotto Marco, Rihanna —, Versace Kim Jones, Gabriel Bouys, Adrian Appiolaza, Marco Beroorello, Marco Bertorello, Ferragamo, Delphine Achard, Francesco Risso's Marni, Mattieu, Judy Blame, Justin Shin, Boss, Raf Simmons Organizations: Milan CNN, Milan, Brands, Prada, Bottega Veneta, Red Wing, Dolce, Gabbana, Rocky, Getty, Moschino, Milan Fashion Locations: —, Ferragamo, Bottega, buttoned, Marni, Milan, AFP, British

☆ MercadoLibre: Argentinian e-commerce giant outperforms mega-cap tech
▼ + stars: | 2024-09-24 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMercadoLibre: Argentinian e-commerce giant outperforms mega-cap techMercadoLibre, the Argentinian e-commerce giant, is emerging as a top pick on Wall Street as investors look for tech opportunities beyond the Magnificent Seven. Kate Rooney breaks down the bull case.

Persons: Kate Rooney

☆ Demi Moore's grotesque new movie 'The Substance' has a shocking, bloody, and unhinged ending — and Oscar buzz
▼ + stars: | 2024-09-24 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +10 min

Demi Moore gives the wildest performance of her career in French filmmaker Coralie Fargeat's provocative new movie "The Substance." "The Substance" centers on Elisabeth Sparkle (Moore), a former A-lister whose career is on the decline. They can't survive separately because with Elisabeth dead, there's no more stabilizer fluid, and without stabilizer fluid, Sue can't continue to exist. So Sue's body (while she's en route to the big New Year's Eve performance) starts deteriorating: her teeth begin coming out, and a nail pops off. The monster rips down a photo of Elisabeth's younger face and tapes it on, then dolls itself up with carefully placed earrings and some makeup.

Persons: Demi Moore, Coralie, Palme, Fargeat, Moore, —, Elisabeth Sparkle, lister, Elisabeth, she's, Harvey, Dennis Quaid, who's, convulses, Margaret Qualley, double's, Sue, Sue doesn't, specter, it's, Christine Tamalet, Elisabeth isn't, Sue wakes, Sue can't, regurgitates Organizations: Service, Cannes Film, Business, Hollywood Locations: Hollywood

☆ I'm a Walmart store manager in Texas. This is what my typical day looks like.
▼ + stars: | 2024-09-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with Robert Doyle, a Walmart store manager in Cibolo, Texas. As a store manager, each day is a little different, but the process is the same. At about 8 o'clock I'll start working with my morning management team, which includes a few coaches and some team leads. The technology is growing so fast and it changes day to day to day, and we're working to stay on top of it. I like to present my store as the best store in town — whatever competitor I have, I've got the best store.

Persons: —, Robert Doyle, I've, There's, that's, We've, Dominick Organizations: Service, Walmart, Business, Home Office Locations: Cibolo , Texas, DeLand , Florida, Germany, Florida, Illinois, North Carolina, Pennsylvania, Texas

☆ Meet the Latin American e-commerce platform that's outperforming Amazon this year
▼ + stars: | 2024-09-24 | by ( Kate Rooney | ) www.cnbc.com time to read: +4 min

One of the world's largest e-commerce companies is emerging as a top pick on Wall Street as investors look for tech opportunities beyond the Magnificent Seven. "There was no venture capital for Latin America. Last year, venture-backed companies in Latin America raised $3.3 billion across nearly 1,000 deals, according to PitchBook. E-commerce and online payments are steadily growing, and Latin America has a young, mobile-savvy population of more than 600 million people. "When you look at the penetration of e-commerce in Latin America, it's still quite low compared to the U.S., Europe or Asia," Galperin told CNBC.

Persons: Marcos Gaplerin, Brad Gerstner, Gerstner, CNBC's Scott Wapner, Goldman Sachs, It's, Buenos Aires Galperin, Galperin, MercadoLibre, We've, it's Organizations: Nasdaq, Wall Street, Stanford Graduate School of Business, CNBC, Stanford, eBay Locations: Delaware, Brazil, Argentina, Mexico, Chile, South America, Mercado Pago, Buenos Aires, Palo Alto , California, California, America, Silicon Valley, New York, Sand, West, Latin America, U.S, Europe, Asia

Piper Sandler upgraded shares of Salesforce to overweight, with its new price target implying upside of more than 20%. Helfstein placed a $45 price target on shares, implying about 48% upside from Monday's close. Along with the downgrade, Low reduced the firm's oil price target to $75 from $80 a barrel. — Samantha Subin 6:02 a.m.: Jefferies downgrades Starbucks to underperform Jefferies is bracing for more troubles ahead for shares of Starbucks . SBUX mountain 2024-06-28 SBUX in Q3 — Samantha Subin 5:45 a.m.: Piper Sandler upgrades Salesforce Piper Sandler is turning more bullish on shares of Salesforce .

Persons: Piper Sandler, Lowe's, Oppenheimer, Jason Helfstein, Pinterest, Helfstein, — Samantha Subin, Jefferies, Keith Devas, Samantha Subin, Peter Low, underperform Jefferies, Andy Barish, Barish, they've, Salesforce Piper Sandler, Brent Bracelin, Bracelin, Brian Nagel, Nagel, it's, Fred Imbert Organizations: CNBC, Oppenheimer, Amazon, Google, Kenvue, Atlantic, Exxon Mobil, BP, Starbucks, U.S, Federal Reserve Locations: China, Salesforce, Monday's

☆ Doing this for 20 seconds a day can relieve stress and anxiety
▼ + stars: | 2024-09-24 | by ( Jocelyn Solis-Moreira | ) edition.cnn.com time to read: +6 min

Self-compassionate touch, which can be practiced anywhere, can include stroking the upper arms like a hug. Milko/E+/Getty ImagesThe study showed a single 20-second session of self-compassionate touch significantly reduced stress, increased kindness to the participant and improved mental well-being. However, Hafeez noted that while self-compassionate touch showed similar mental health benefits to long-term therapy, it is not a complete substitute for it — especially among those with diagnosed mental health conditions. Instead, she advised people to think of self-compassionate touch as an added tool for their mental health toolbox. The study results showed the more people make self-compassionate touch a habit, the greater the mental health benefits.

Persons: Eli Susman, Susman, ” Susman, ”, “, —, Sanam Hafeez, Susan Evans, ” Evans, Hafeez, It’s, “ It’s, Jocelyn Solis, Moreira Organizations: CNN, University of California, Research, College, Weill Cornell Medical College Locations: Plum, France, Berkeley, New York City, New York

☆ Justice Department accuses Visa of debit network monopoly that impacts price of 'nearly everything’
▼ + stars: | 2024-09-24 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

The U.S. Justice Department on Tuesday sued Visa , the world's biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing "exclusionary" agreements on partners and smothering upstart firms. "Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service," Garland said. "As a result, Visa's unlawful conduct affects not just the price of one thing – but the price of nearly everything." "These agreements penalize Visa's customers who route transactions to a different debit network or alternative payment system." 4 behind Visa, MasterCard and American Express .

Persons: Merrick Garland, Garland, Joe Biden's, Discover's Organizations: U.S . Justice, Visa, DOJ, MasterCard, fintech, Plaid, Mastercard, Federal Trade Commission, Consumer Financial, Bureau, Capital, Discover Financial, American Express Locations: New York, U.S

☆ These 23 companies can benefit most as raises become rarer, Goldman Sachs says
▼ + stars: | 2024-09-24 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Goldman SachsWage growth is down from 6% in August 2022 to 3.9%, according to Goldman Sachs. Still, Goldman Sachs thinks the US unemployment rate will drift down to 4% in 2025, which would be a healthy figure. An influx of immigrants may have affected this trend, Goldman Sachs economists say. Goldman SachsLabor costs rose 7% in 2023 for S&P 500 companies and 5% for firms in the Russell 2000, Goldman found. Goldman Sachs shared a sector-neutral list of 50 stocks in the S&P 500 that have high labor costs, which should disproportionately benefit as wage inflation slows as raises become rarer.

Persons: —, Goldman Sachs, David Kostin, Kostin, Russell, Goldman Organizations: Service, Federal, Business, Goldman, Chief US, Goldman Sachs Labor, Companies Locations: Goldman Sachs

☆ Stocks making the biggest moves midday: Visa, Smartsheet, JD.com and more
▼ + stars: | 2024-09-24 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Smartsheet — Shares surged more than 6% after Blackstone and Vista Equity Partners agreed to buy the software maker for $56.50 a share in cash, or about $8.4 billion . Unless another offer is made, the deal is expected to close by January 2025, pending shareholder approval. China stocks — Shares of Chinese companies soared after China's central bank unveiled a host of stimulus measures . Thor earned $1.68 per share on $2.53 billion in revenue in its fiscal fourth quarter. Flowserve — The stock moved nearly 5% higher after Bank of America reiterated a buy rating, saying its exposure to nuclear power is "underappreciated."

Persons: Alibaba, Li, Thor, LSEG, Morgan Stanley, BioNTech, Guggenheim, Joseph, Alex Harring, Samantha Subin, Lisa Kailai Han, Jesse Pound, Sarah Min Organizations: Bloomberg, Justice Department, Blackstone, Vista Equity Partners, JD.com, PDD Holdings, Li Auto, Thor Industries, Arlo Technologies, Bank of America, GE, Joseph Osha Locations: —

☆ Stocks making the biggest moves premarket: Visa, Starbucks, Salesforce, Lowe's and more
▼ + stars: | 2024-09-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Starbucks — The coffee house chain moved 1.6% lower after Jefferies downgraded the stock to underperform from hold and cut its price target. BioNTech — U.S.-listed shares of the German biotechnology company rose 2.7% on the heels of a Morgan Stanley upgrade to overweight from equal weight. Pinterest — The image sharing company rose more than 1% after Oppenheimer initiated coverage of the stock with an outperform rating. GE Vernova — Shares gained nearly 1% after Guggenheim initiated coverage of GE Vernova with a buy rating, saying that it is "still in the early stages of a multi-year improvement in profitability." Analyst Joseph Osha's $300 price target implies a roughly 19% increase from Monday's closing price for the stock.

Persons: Jefferies, Piper Sandler, Lowe's, Oppenheimer, Morgan Stanley, BioNTech, Joseph Osha's, —, Sarah Min, Michelle Fox, Pia Singh, Sean Conlon, Jesse Pound, Fred Imbert Organizations: Thor Industries, Arlo Technologies, Visa, Bloomberg, Justice Department, Citi, Mastercard, Federal Reserve, GE, Guggenheim Locations: U.S, China, —

☆ TikTok removes Russian state media outlets RT and Sputnik, citing 'covert influence operations'
▼ + stars: | 2024-09-23 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

TikTok said Monday it had removed accounts belonging to Russian state media outlets RT and Sputnik for engaging in what TikTok called “covert influence operations.”The social video app said in a statement on its website that it removed accounts associated with TV-Novosti and Rossiya Segodnya, the parent organizations of the RT television network and the Russian news agency Sputnik. The suspensions follow the Biden administration’s accusations this month that RT acts as an arm of Moscow’s spy agencies. Social media rivals Meta and YouTube have announced similar suspensions of Russian state media accounts, although other tech companies such as X have left up RT and Sputnik accounts. RT and Sputnik both published reports over the weekend saying that some of their accounts had been deleted without explanation. Secretary of State Antony Blinken said this month that he believed Russian outlets such as RT had moved beyond working as media outlets and had turned into covert intelligence operations.

Persons: TikTok, Rossiya Segodnya, ’, ” Sputnik, Antony Blinken, Margarita Simonyan, ” Organizations: Sputnik, Novosti, NBC News, Biden, Social, Meta, YouTube, RT, Federal, “, Reuters Locations: Russian, Russia, U.S, United States of America, Mexico

☆ China’s youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | Lee Ying Shan Is A News Associate With Cnbc International Based In Singapore. | ) www.nbcnews.com time to read: +1 min

China’s youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, driven by an economic slowdown and restrictive hiring policies, according to analysts. China’s urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% rise in July. China’s youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. This is expensive so no one wants to fire anyone now or hire anyone new,” he noted. “That’s why the [overall] unemployment rate isn’t that bad but the unemployment rate for youths is so high,” Rein added.

Persons: That’s, “ It’s, ”, Dan Wang, Shaun Rein, “, ” Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, “ Locations: China

☆ The gigantic dunes rising up out of the world’s oldest desert
▼ + stars: | 2024-09-23 | by ( Joe Yogerst | ) edition.cnn.com time to read: +8 min

Angle for Nile perch at Lake Turkana (Kenya)Lake Turkana is the world's largest permanent desert lake. Discover the Force at “Star Wars” film sites (Tunisia)"Star Wars" is brought down to Earth in Tunisia. Alternating between existing structures and sets specifically built for “Star Wars,” scenes from four of the movies were shot on location in Tunisia. Galaxy Tours is one of several outfitters with multi-day guided excursions of Tunisia’s enduring fan-favorite “Star Wars” landmarks. Yvonne Wacht/iStock Editorial/Getty ImagesMake like a nomad on a caravan camping trip in the vast Erg Chigaga desert of southern Morocco.

Persons: Salvador Dalí couldn’t, Egypt's, Alexander, Emily H, Johnson, George Lucas, Luke Skywalker’s, Lars Homestead, Hoan, Morocco's, Yvonne Wacht, ” Organizations: CNN, Oasis, Alamy, UNESCO, Washington Post, Heritage, Lobolo, “, “ Star, San, Camp, Fiume Bush, outfitters Locations: Africa, Sahara, Kenya, Namibia, Namib, Xinhua, Egypt, Cairo, Mauritania, Ouadane, Angle, Turkana, Lake Turkana, Namaqualand, South Africa, Cape Town, Tunisia, Sidi Driss, Matmata, Naftah, Fiume, Morocco, muti, Marrakesh, Aït

☆ How Foot Locker is waging a comeback after its breakup with Nike
▼ + stars: | 2024-09-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +14 min

Foot Locker turns 50 while on a bit of an upswing two years into Dillon's tenure as CEO. Coi Leray performs at Foot Locker 50th anniversary event on September 16, 2024 in New York. "Whereas Foot Locker looks vulnerable because it just doesn't have all these other strings to its bows," said Saunders. Foot Locker store location on 34th street in New York City. The company is working to refresh two-thirds of its global Foot Locker and Kids Foot Locker doors by the end of 2025, and said 40% of its North American footprint is now off-mall.

Persons: Patrick T, Mary Dillon, Locker, Mike Vitelli, Isabella Picicci, we've, Dillon, Neil Saunders, Dick's, Saunders, they're, Frank Winfield Woolworth, Janine Stichter, Foot, Frank Bracken, Bracken, America sputtered, WSS, …, she's, That's, Stichter, they'd, Kim Waldmann, it's, Waldmann, that's, Foot Locker Organizations: Nike, Foot, Beverly Center, Fallon, Bloomberg, Getty, PR, Adidas, CNBC, Goods, JD, JD Sports, City of, Forbes, Jordan, she's Locations: Los Angeles, New York City, New York, City, City of Industry , California, U.S, America, North America, GlobalData, Foot

☆ Goodbye Louis Vuitton. China’s Gen Z leans into ‘dupe economy’ as growth prospects stall
▼ + stars: | 2024-09-23 | by ( Juliana Liu | ) edition.cnn.com time to read: +8 min

Mainly a print model, Zheng used to rake in 30,000 yuan ($4,230) a month when she began working two years ago. Some are virtually indistinguishable from the real thing, while others are inspired by the original design and offer morecolors or textures. The popularity of this product category is soaring as consumer confidence in China nears a historic low, according to analysts. Shoppers are sitting on the sidelines due to a combination of falling stock prices, capital flight and “tepid” wage growth, the economists said. A Hong Kong court ordered the liquidation of the Chinese property giant on on January 29.

Persons: Zheng Jiewen, Zheng, “, ”, Louis Vuitton, Chanel, Laurel Gu, Lulu, dupes isn’t, Nomura, Xinxin, Greg Baker, Nicole Hal, “ I’ve, Goldman Sachs Organizations: Hong Kong CNN, CNN, Prada, Reuters, Shoppers, Barclays, Hong, Getty, Goldman Locations: China, Hong Kong, Guangzhou, Shanghai, Asia, Japan, Chongqing, Beijing, AFP, Europe, “

☆ Exxon is trading at 'extremely cheap' levels right now, says investor Stephanie Link
▼ + stars: | 2024-09-23 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. ET each day) Investors are watching the trend in small caps and value stocks and how the Federal Reserve rate cut last week could impact that trade. Worldwide Exchange word of the day: Confidence Stephanie Link of Hightower said she's constructive about the market, but still expects to see some volatility. Worldwide Exchange pick: Exxon Link says Exxon (XOM) is currently trading at an attractive entry point at 14-times forward earnings. XOM YTD mountain Exxon YTD

Persons: Stephanie Link, Hightower, Callan, Mitrione, Link Organizations: PRO, Worldwide, Federal, Callan Family, Worldwide Exchange, Exxon Link, Exxon

☆ China's youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, data from the National Bureau of Statistics showed, amid an economic slowdown. China's urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% climb in July. China paused reporting the youth unemployment rate for much of the latter half of last year while it reassessed its calculation methods. China's youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. "That's why the [overall] unemployment rate isn't that bad but the unemployment rate for youths is so high," Rein added.

Persons: That's, Dan Wang, Shaun Rein, Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, People's Bank of Locations: China, People's Bank of China

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