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☆ The SAG-AFTRA strike is the best thing to happen to Cameo, the short-video app where celebs get paid to make clips for fans, since the lockdowns
▼ + stars: | 2023-08-28 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

Over 2,400 celebrities flocked to Cameo amid the SAG-AFTRA strike. AdvertisementAdvertisementShort-video request app Cameo has seen over 2,400 celebrities starting or reactivating their accounts since the actors' strike began in July, the company's CEO told CNN on Sunday. Cameo is an app where users can pay celebrities to make personalized short clips. Despite the recent influx of celebrities, Cameo has grappled with layoffs, axing 80 of its workforce in July and leaving the company with less than 50 employees, the Information reported. Galanis said at the time Cameo hired too many workers too quickly to "support both fan and talent demand during the pandemic lockdowns."

Persons: Fran Drescher, Alyssa Milano, Steven Galanis, Galanis, —, Cameo, Cheyenne Jackson, Milano, Raymond, Fred Stoller, Elijah Wood Organizations: SAG, Actors, Morning, CNN, Screen Actors, New York Times Locations: Hollywood

☆ Jim Cramer: This is my thinking behind Monday's buys of two very unloved stocks
▼ + stars: | 2023-08-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

We have waited for Estee Lauder (EL), too. Estee Lauder is a huge employer in China and a favored one. Estee Lauder remains a great answer for them. Disney and Estee Lauder are battles and we have waited until our adversaries seem spent and the time is right. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jeff Marks, we've, that's, Estee Lauder, —, Bob Iger, Estee's Fabrizio Freda —, Iger, Freda, Xi, Gina Raimondo, Monday, Wang Wentao, Lauder, It's, Jim Cramer's, Jim Cramer, Jim, Disney Bob Iger, Kevin Dietsch Organizations: Disney, ESPN, Hulu, NBC, Comcast, DIS, Fox, Netflix, Apple, Federal Trade Commission, Paramount, Warner Brothers Discovery, Hollywood, United State, Cosmetics, U.S, Commerce, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley Conference, Getty Locations: Hulu —, China, United, Hainan, South Korea, Iger, Sun Valley , Idaho

The University of North Carolina at Chapel Hill was under a shelter-in-place order on Monday afternoon after the school warned that an “armed, dangerous person” was on campus. The university sent an alert just after 1 p.m. that advised people in the area to go inside and stay away from windows. All classes & events canceled for today.”Students returned to class on Aug. 21 after summer break. The university did not immediately respond to requests for comment. It was not clear whether there were injuries.

Organizations: University of North, Chapel, ” Locations: University of North Carolina

☆ Celebrity video site sees a surge of actor sign-ups in the wake of the strike
▼ + stars: | 2023-08-27 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

Others film short videos for fans on Cameo, fetching anywhere up to $1 to $1,500. CameoThe reality of actors’ livelihoods has come into full focus since the SAG-AFTRA strike began on July 14. Seeking extra cash, many out-of-work thespians have flocked to Cameo, a site where they can earn income from fans who buy personalized celebrity videos. The average price for Cameo for Business, which allows the video to be used for commercial purposes, is $1,700. ‘The Pope’s blessing’Despite the influx of actors this summer, it’s been a slow season for the site since Father’s Day.

Persons: Steven Galanis, ” Galanis, Fran Drescher, ”, Cameo, Drescher, Alyssa Milano, Cheyenne Jackson, Chris Wood, China McClain, Melissa Benoist, Brian Cox, Santa Claus, Galanis, Fred Stoller, Gerard, Raymond ”, Fred the, who’ve, ” Stoller, Stoller, he’s, we’re, it’s, AFTRA Organizations: New, New York CNN, SAG, CNN Business, CNN, for, “, “ The Penguins, Fantasy Football, Business Locations: New York, Hollywood, China, Santa, “ The, Madagascar

☆ North Korea approves return of its citizens from abroad after COVID lockdown
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +2 min

A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, July 19, 2022. REUTERS/Kim Hong-Ji/Pool Acquire Licensing RightsSEOUL, Aug 27 (Reuters) - North Korea has approved the return of its citizens who were abroad after years of strict border restrictions during the COVID pandemic, state media reported on Sunday as the isolated country cracks open its border to passenger travel. "Those returned will be put under proper medical observation at quarantine wards for a week," the statement said. Cargo train and ship traffic has slowly increased over the past year, but North Korea has only just begun to allow some international passenger travel. Many foreign delegations closed their embassies in Pyongyang because they were unable to rotate staff or ship in supplies for much of the pandemic.

Persons: Kim Hong, lockdowns, Soo, hyang Choi, Daniel Wallis Organizations: REUTERS, Rights, Epidemic, Koryo, North, Thomson Locations: Gijungdong, North Korea, Panmunjom, South Korea, Rights SEOUL, Pyongyang, Beijing, China, Russian, Kazakhstan

☆ The Making of a Custom Wedding Veil
▼ + stars: | 2023-08-26 | by ( Alix Strauss | ) www.nytimes.com time to read: +2 min

Wedding dresses involved many different fittings and customizing to a person’s body — there was a tremendous amount of work, which was hard to keep up with. Creating a custom veil is an intimate and unique experience where the bride and I are designing together. I send videos of me making the veil, and I show the bride the veil before I box it up and send it off. For custom orders, the timeline depends on the complexity of the lace and handwork involved, typically four to eight months. It can take over 10 hours for a simple veil or 65 hours for a three-tier blusher — a superlong, cathedral-like veil.

Persons: Covid Locations: Etsy

Stringer/AFP/Getty Images“Invisible age discrimination for 35-year-olds has always existed in the workplace,” lawmaker Jiang Shengnan told the gathering, reported state-run China Youth Daily. “Although I had really good work experience and a master’s degree, I’m really uncompetitive after 35 years old,” Tao Chen said in his Douyin video. New twist on an old storyFor many Chinese women, the “curse” builds upon and further compounds the entrenched gender discrimination that has long plagued the workplace. And even in areas where some protection was offered – such as for mothers taking maternity leave – enforcement of the law is weak, and gender discrimination remains common, she said. Costfoto/NurPhoto/Getty Images“A large amount of age discrimination is intersectionality – discrimination of age, gender, pregnancy, and caregiving duties,” said the assistant professor.

Persons: Han, She’s, “, ”, don’t, –, Stringer, Jiang Shengnan, hadn’t, Tao Chen, ” Tao Chen, Liu, ” Liu, Yiran Zhang, Zhang, Liu – Organizations: Hong Kong CNN, CNN, Communist Party, Getty, Central Party School, Chinese Communist Party, Xinhua, ageism, Sichuan University, Cornell Law School, Employees Locations: Hong Kong, Beijing, China, Congjiang, AFP, Xinhua, “, Shenzhen, Suqian, Shenzhen –

☆ A Hooters restaurant in North Carolina has been accused of racial discrimination in a lawsuit, which said managers made jokes about Black workers' hairstyles and appearances
▼ + stars: | 2023-08-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

The EEOC has sued a Hooters in North Carolina, accusing the restaurant of racial discrimination. Managers joked about the appearance of staff who were Black or had dark skin tones, the suit alleged. AdvertisementAdvertisementWhen the pandemic hit in March 2020, the restaurant laid off its roughly 43 Hooters Girls, the lawsuit said. The restaurant began recalling some of the Hooters Girls, and by about mid-May 2020, 13 of them had been asked to return to work, the lawsuit said. Prior to lockdown, 51% of the Hooters Girls at the restaurant were Black or dark-skinned, but of the workers who were recalled, only 8% were, the lawsuit said.

Organizations: Hooters, Service, Employment, Hooters Girls, Court, Middle, Middle District of Locations: North Carolina, Wall, Silicon, Greensboro, Middle District, Middle District of North Carolina

☆ Fresh Look at Data Shaves Just a Hair Off U.S. Job Growth
▼ + stars: | 2023-08-23 | by ( Ben Casselman | More About Ben Casselman | ) www.nytimes.com time to read: +1 min

The red-hot American job market might be just a couple of degrees cooler than previously believed. There were 306,000 fewer nonagricultural jobs in the United States in March than initially reported, according to revised data released by the Labor Department on Wednesday. That suggests employers added jobs at a slightly slower rate in 2022 and early 2023 than more timely — but less accurate — monthly data suggested. The recent strength of the job market has surprised economists, who expected the rapid increase in interest rates to lead to a more significant slowdown in hiring. Some forecasters thought that the monthly jobs figures were overstating hiring, and that the annual update would show a substantial downward revision.

Organizations: Labor Department Locations: United States

☆ Factory slump and cost-of-living squeeze puts UK economy on course to shrink
▼ + stars: | 2023-08-23 | by ( David Milliken | ) www.reuters.com time to read: +4 min

The BoE said earlier this month it only saw inflation falling below 4% from the second quarter of 2024. The PMI survey recorded the slowest growth in output prices since February 2021. Manufacturers - who make up 10% of Britain's economy - reported the biggest fall in output prices since February 2016, echoing wider weakness in the sector. "Companies are reporting reduced orders for goods and services as demand is increasingly hit by the cost-of-living crisis, higher interest rates, export losses and concerns about the economic outlook," Williamson said. Manufacturers said this fall appeared to be an attempt to reduce the need for working capital at a time of rising interest rates.

Persons: Carl Recine, BoE, Queen, Chris Williamson, Sterling, James Smith, P's Williamson, Williamson, David Milliken, William Schomberg, Hugh Lawson Organizations: REUTERS, PMI, P, P Global Market Intelligence, Bank of England, ING, Manufacturers, Thomson Locations: Altrincham, Britain

But signs of a slowdown are mounting, highlighting the BoE's dilemma as it continues to grapple with inflation. But the BoE looks set to keep on raising rates with inflation still more than three times its 2% target. Below are key readings of Britain's economy that the BoE will assess before its next scheduled announcement on interest rates on Sept. 21. But many analysts expect the lagged impact of the BoE's rate rises to hit spending soon, adding to the drag on the economy. Many economists think the delayed impact of higher interest rates and still elevated inflation will hit growth in the coming months.

Persons: Dado Ruvic, BoE, Andrew Bailey, GfK, Sumanta Sen, Devika Organizations: REUTERS, Bank, Bank of England, Brexit, P, CIPS, Nationwide, Halifax, Reuters Graphics LABOUR, Employers, European Union, Reuters, Reuters Graphics, Thomson Locations: Britain

☆ Fact check: The first Republican presidential debate of the 2024 election
▼ + stars: | 2023-08-23 | by ( Cnn Staff | ) edition.cnn.com time to read: +16 min

CNN —Eight candidates for the Republican nomination for president took the stage for the first GOP debate Wednesday night in Milwaukee. (In June 2020, he announced a plan for schools to reopen for the next school year that began in August. In April 2020, the unemployment rate spiked to 14.7% — the highest level since monthly records began in 1948. It reached a 66-year low during certain months of 2019, at 3.4% in April and 3.6% in August, but by December 2020, unemployment for women was at 6.7%. That deal was negotiated by special counsel David Weiss, who was first appointed to the Justice Department by former President Donald Trump.

Persons: Ron DeSantis, DeSantis, Daniel Dale Nikki Haley, Nikki Haley, “ Donald Trump, Trump, Daniel Dale, Katie Lobosco Burgum, Doug Burgum, –, Goldman Sachs, Ella Nilsen Tim Scott, South Carolina Sen, Tim Scott, Biden, ” Scott, Scott’s, don’t, Tara Subramaniam Scott, ’ Scott, Joe Biden, they’re, Kevin McCarthy, Merrick Garland, ”, Garland, CNN’s Hannah Rabinowitz Haley, Haley, CNN’s Haley Britzky Pence, Mike Pence, “, Obama, CNN’s Haley Britzky Christie, Hunter Biden, Chris Christie, Biden’s son Hunter Biden, Christie, David Weiss, Donald Trump, CNN’s Marshall Cohen Scott, Burgum, Scott, Katie Lobosco Organizations: CNN, Republican, GOP, “, New, New York Tri, State, Trump, South, United Nations, Social Security, Dakota Gov, American Clean, Republicans, DOJ, Justice Department, National School, Department, Defense Department, of Foreign Relations, Former New Jersey Gov, US, IRS, Treasury Locations: Milwaukee, Florida, Broward, Palm, New York, Connecticut , New Jersey, Louisiana, South Carolina, China, United States, Covid, Ukraine, Estonia, Latvia, Lithuania, Poland

Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally in Windham, New Hampshire, U.S., August 8, 2023. REUTERS/Reba Saldanha/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - Former President Donald Trump plans to turn himself in and be processed in Atlanta on Thursday in connection with his indictment in Georgia, he said on social media on Monday. "I'll be going to Atlanta, Georgia, on Thursday to be ARRESTED," Trump said on his Truth Social platform. CNN earlier reported that Trump planned to surrender at the Fulton County jail in Georgia on Thursday. Trump, the front-runner for the 2024 Republican presidential nomination, and his co-defendants were indicted on Aug. 14.

Persons: Donald Trump, Reba Saldanha, Trump, Fulton Country District Attorney Fani Willis, Willis, Trump's, Kanishka Singh, Jacqueline Wong, Cynthia Osterman Organizations: U.S, Republican, REUTERS, Rights, CNN, Trump, Fulton Country District Attorney, Prosecutors, Thomson Locations: Windham , New Hampshire, U.S, Atlanta, Georgia, Atlanta , Georgia, Fulton, Fulton County, Rice, Washington

[1/2] A police officer holds up crime scene tape to allow people to leave after a shooting incident at the West Edmonton Mall in Edmonton, Alberta, Canada August 21, 2023. REUTERS/Kyaw Soe Oo Acquire Licensing RightsAug 22 (Reuters) - Three people suffered serious injuries in a shooting incident at a mall in Edmonton, the capital of the Canadian province of Alberta, city police said on Monday in a post on X, formerly known as Twitter. The victims of Monday's incident at the West Edmonton mall have been taken to hospital for treatment, although the injuries are not life-threatening, the police said. Other staff asked people to gather in a safe area away from doors and windows, another mall visitor said. Reporting by Anirudh Saligrama and Kyaw Soe Oo; Editing by Christian Schmollinger and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Anirudh Saligrama, Soe, Christian Schmollinger, Clarence Fernandez Organizations: West Edmonton Mall, REUTERS, Twitter, West, Reuters, Thomson Locations: Edmonton , Alberta, Canada, Edmonton, Canadian, Alberta, West Edmonton

☆ Trump says he will surrender at an Atlanta jail on Thursday in Georgia election interference case
▼ + stars: | 2023-08-21 | by ( Dareh Gregorian | Katherine Doyle | ) www.cnbc.com time to read: +5 min

I'll be going to Atlanta, Georgia, on Thursday to be ARRESTED by a Radical Left District Attorney, Fani Willis," Trump wrote on his social media platform, Truth Social. Fulton County District Attorney Fani Willis, who launched the investigation into Trump and his allies, has given the defendants until noon Friday to voluntarily surrender. Trump earlier Monday agreed to a $200,000 bond in the Georgia criminal case charging him with trying to illegally overturn the 2020 presidential election results in the state. Eastman — who's referenced but not charged as a co-conspirator in special counsel Jack Smith's federal criminal case against Trump for allegedly trying to subvert the 2020 election results — features prominently and repeatedly in the DA's indictment. Ray Smith, another Trump lawyer who was allegedly involved in the electors scheme, agreed to a $50,000 bond order, court filings show.

Persons: Donald Trump, Fani Willis, Trump, Willis, Scott McAfee, — Drew Findling, Marissa Goldberg, Jennifer Little —, Trump's, Willis —, John Eastman, McAfee, Eastman, Eastman —, Jack, Joe Biden, Harvey Silverglate, Kenneth Chesebro, Ray Smith, Scott Hall Organizations: Windham High School, Radical Left, Attorney, Trump, NBC News, Superior, Courthouse, Eastman, Hall Locations: Windham , New Hampshire, Fulton County , Georgia, Atlanta , Georgia, Fulton County, Rice, Georgia, Fulton, Coffee County

☆ Legendary investor Jeremy Grantham sees shades of the dot-com bubble in markets - and predicts stocks will slump and recession will strike
▼ + stars: | 2023-08-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jeremy Grantham compared the post-pandemic boom in stocks to the dot-com bubble. The GMO cofounder doubts AI buzz can offset the impact of higher interest rates and tech woes. The buying frenzy was fueled by rock-bottom interest rates, stimulus checks, federal grants and loans, lockdown boredom, and other factors. The resulting surge in stocks was "in many ways about equal to the 2000 tech bubble," the veteran investor and GMO cofounder added. Grantham added that a recession could still hit this year, and forecasted moderately higher inflation and interest rates in the years to come versus the last decade.

Persons: Jeremy Grantham, Grantham, David Rubenstein, It's Organizations: Service, Bloomberg, Federal Locations: Wall, Silicon

☆ Inside a ‘Nightmare’ Lockdown at a Wisconsin Prison
▼ + stars: | 2023-08-19 | by ( Mario Koran | Jamie Kelter Davis | ) www.nytimes.com time to read: +1 min

Prisoners locked in their cells for days on end report walls speckled with feces and blood. Birds have moved in, leaving droppings on the food trays and ice bags handed out to keep inmates cool. Blocked from visiting the law library, prisoners say they have missed court deadlines and jeopardized appeals. One thousand inmates incarcerated at Waupun Correctional Institution, a maximum-security prison in southeast Wisconsin, have been confined mostly to their cells for more than four months, ever since prison officials locked down the facility and halted many programs and services. The state’s Department of Corrections has offered little explanation about the lockdown or why it has lasted so long.

Organizations: Waupun Correctional, The New York Times, state’s Department of Corrections Locations: Wisconsin, Waupun

United States and Chinese flags are set up before a meeting between U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng at the Diaoyutai State Guesthouse in Beijing, China, Saturday, July 8, 2023. The U.S. economy expanded 1.2% in the second quarter, following 1.6% growth in the first three months of the year. Meanwhile, China's growth outlook continues to darken. "We may see similar growth rates between the U.S. and China, which is a concern for China because it is much poorer per capita," she added. The historic highs and lows of U.S. and Chinese economic surprises, respectively, will likely revert to mean as analysts adjust their expectations.

Persons: Janet Yellen, Mark Schiefelbein, That's, Goldman Sachs, Desmond Lachman, Dirk Willer, Jamie McGeever, Kirsten Donovan Organizations: Treasury, Rights, Atlanta Fed's, Barclays, Goldman, American Enterprise Institute, Reuters, Center for Strategic, International Studies, U.S, World Bank, Citi, Thomson Locations: United States, Diaoyutai, Beijing, China, Rights ORLANDO , Florida, U.S

☆ We are maintaining our position in Estee Lauder after weak guidance — here's why
▼ + stars: | 2023-08-18 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Shares of Estee Lauder (EL) fell nearly 3% on Friday after the cosmetics company delivered weaker-than-expected guidance for the coming year. The midpoint of management's guidance for full year net sales growth is 6%, implying about $16.86 billion. Management expects first-quarter sales to decline 11% at the midpoint, implying sales of $3.5 billion, well below the $3.94 billion estimate. Analysts were looking for Estee Lauder to make a combined total of $3.58 per share in that time frame. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.

Persons: Estee Lauder, reaccelerate, Jim Cramer's, Jim Cramer, Jim Organizations: Refinitiv, Management, CNBC, daimaru, Getty Locations: Asia, Pacific, China, Hong Kong, Hainan, Americas, America, Brazil, Mexico, United States, Nanjing, Shanghai

REUTERS/John Sommers II/File Photo Acquire Licensing RightsAug 18 (Reuters) - Air cargo enjoyed record demand when COVID-19 closed borders and snarled supply chains. Now, it is reeling from overcapacity and tumbling freight rates as the freight boom makes a hard landing. Passenger jets grounded during the health crisis are flying again and bringing their lower-deck cargo space, which competes with dedicated air freighters, back into play. The Florida-based carrier cited "the unyielding and rapidly mounting macro-economic headwinds that plagued the entire air cargo transportation sector starting in late 2022". In June, air cargo experienced the slowest contraction since February 2022, the International Air Transport Association said.

Persons: John Sommers, Xeneta, they're, Peter Sand, we're, Sand, planemakers, Eddy Pieniazek, expective, Pieniazek, Robert, Tim Hepher, Lisa Bartlein, Allison Lampert, Valerie Insinna, Barbara Lewis Organizations: Parcel Service, UPS, REUTERS, Air, Reuters, Western Global Airlines, Japan Airlines, Xeneta, International Air Transport Association, Ishka, Cathay, HK, Boeing, Airbus, Aeronautical Engineers, Thomson Locations: Louisville , Kentucky, Delaware, Florida, China, Asia, United States, Miami

☆ Amazon is expanding its own shipping service that directly competes with FedEx and UPS, email invite shows
▼ + stars: | 2023-08-18 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Amazon is inviting sellers to use its own in-house shipping service, called Amazon Shipping. Amazon is significantly expanding its own shipping service that competes with FedEx and UPS. Earlier this week, Amazon invited some sellers to use Amazon Shipping, its own in-house delivery service, according to an email invite seen by Insider. If the merchant used Amazon's fulfillment service, Amazon would decide which delivery service their packages would go through, whether it's UPS or Amazon's own shipping service. However, with Amazon Shipping, sellers now have the choice to use Amazon Shipping directly, even if they are shipping from their own warehouse.

Persons: It's, Pitney Bowes, That's, Olivia Connors Organizations: Amazon, Amazon Shipping, FedEx, UPS, US Postal Service, Pitney, Amazon's, eBay, Bloomberg Locations: United States, France, Italy, Spain, India, Los Angeles, London

☆ Thousands Evacuated in Canary Islands After ‘Most Complex’ Fire in 40 Years
▼ + stars: | 2023-08-18 | by ( Isabella Kwai | More About Isabella Kwai | ) www.nytimes.com time to read: +1 min

“Tonight, at least, the fire has behaved and the weather has behaved normally,” Fernando Clavijo, the regional president for the Canary Islands, told reporters on Friday, adding that firefighters had worked intensely to stop the fire’s progress after it moved in an unpredictable manner earlier in the week. Mr. Clavijo said he was hopeful that the forecast would improve, but added that the blaze still was not under control. At least eight municipalities have been affected by the fire, though local authorities on Friday lifted the lockdown order on La Esperanza, a village northeast of Teide National Park, where 3,820 residents had been ordered earlier in the week to shelter in place. The priority on Friday, Mr. Clavijo said, was to confine the fire to an area near the village. For residents closest to the fire, the past few days have been marked by streams of choking smoke and an overcast sky with an orange glow that has been filled with falling ash.

Persons: ” Fernando Clavijo, Clavijo, I’ve, ”, María Luisa Pacheco, La Orotava Organizations: El Locations: Canary, La Esperanza, Teide, La, Spanish

☆ Return to Office, Ending Work From Home May Make Climate Crisis Worse
▼ + stars: | 2023-08-17 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +16 min

Whether mandatory return-to-office policies will make the climate crisis worse is an important question, especially as scientists predict that 2023 will be the hottest year on record. But determining whether working from an office is worse for the planet isn't that simple. Failing to find a balance between boosting productivity at the office and protecting the planet risks making the crisis worse. Even though the study only covered the early part of the pandemic, it illustrated how a shift away from office work can have some positive effects for the planet. "There was no clear answer to whether work from home was better or worse for the environment in general terms."

Persons: Rachel, it's, JPMorgan Chase, James Elfer, Elfer, It's, Ty Colman, Colman, Ralf Martin, Martin, teleworking, Megan Litke, We've, Litke, Efler, Operta's Colman, JPMorgan Chase —, Apple, Tony Johnson, Schneider, Johnson, That's, she's, Catherine Boudreau Organizations: Amazon, Google, JPMorgan, Fortune, Employees, Greenhouse, International Energy Agency, IEA, Imperial College Business School, American University, Energy, Target, Dell, Apple, Schneider Locations: , Maryland, Greater London, London, Washington , DC, Williams, Sonoma, North America

☆ China's JD.com beats revenue estimates on sales amid slowing economy
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 16 (Reuters) - Chinese e-commerce firm JD.com (9618.HK), beat Wall Street estimates for second-quarter revenue on Wednesday, as its focus on lower-priced products to attract customers amid an economic slowdown paid off. Revenue grew 7.6% to 287.9 billion yuan ($39.7 billion), compared with analysts' average estimate of 278.85 billion yuan, Refinitiv Eikon data showed. After China abandoned its stringent COVID-19 lockdown policies, consumption failed to rebound immediately amid a slowdown in the country's overall economy. Recent official economic data has also been gloomy, with consumer price index tipping into deflation in July.

Persons: Aly, JD.com, Yuvraj Malik, Sophie Yu, Vinay Dwivedi, Jason Neely Organizations: CES, REUTERS, HK, Wall, Revenue, Analysts, Thomson Locations: Asia, Shanghai, China, U.S, JD.com, Bengaluru, Beijing

☆ Wendy's now competes with Cheerios for breakfast customers as much as it competes with other chain restaurants, its CMO says
▼ + stars: | 2023-08-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

For Wendy's, Cheerios is now as much of a rival for breakfast customers as other restaurants, its CMO says. It just reported record quarterly breakfast sales. The chain reported record quarterly US breakfast sales volumes in the quarter to July 2, with year-over-year sales growth in the mid-single digits. And Wendy's is eyeing "outsized" growth for its breakfast sales in the future, executives said at its earnings call last week. Wendy's breakfast menu includes French toast sticks, sandwiches in croissant and biscuit buns, and hot and iced coffee.

Persons: Wendy's, Carl Loredo, Josh Kobza, Tim Hortons, Todd Penegor, We're, Penegor, We've Organizations: Service, Cheerios Locations: Wall, Silicon, QSR

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