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☆ EU at odds over gas price cap as 12 countries criticise latest proposal
▼ + stars: | 2022-12-10 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

EU countries are holding emergency negotiations on Saturday as they attempt to line up a deal to cap gas prices at a Dec. 13 meeting of their energy ministers - but states remain split over the plan. Twelve of the EU's 27 member states have circulated a paper demanding that the price cap be "significantly" lower than the latest compromise being negotiated by countries. EU countries have wrangled for months over whether to cap gas prices, but have so far failed to bridge the gap between their divergent views. Gas prices in Europe have soared this year after Russia slashed gas deliveries following its invasion of Ukraine, pushing up fuel costs and stoking inflation. That is lower than the 275 eur/MWh limit proposed by the |European Commission, but the 12 countries said it was still not low enough.

☆ UBS says PVH can rally more than 35% as Tommy Hilfiger parent transforms its business
▼ + stars: | 2022-12-08 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The fashion company behind brands such as Calvin Klein and Tommy Hilfiger should be in vogue for investors heading into 2023, UBS said Thursday. He said the market is too focused on macro and foreign exchange challenges to understand how PVH can drive relative outperformance compared to competitors. The main driver of its performance will be the "PVH+ Plan," which has the goal of making its brands premium, direct-to-consumer and global that move out of wholesale. On a more technical level, Sole said the company is also a top pick because of its "very attractive valuation." But he said fundamentals would improve along with the stock value, as the PVH+ Plan would help bring the operating margin up to 15% in 2025 from 8.5% in the 2022 fiscal year.

☆ EU court rejects WhatsApp challenge against EU Data Protection Board
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 7 (Reuters) - The Court of Justice of the European Union has dismissed as inadmissible an action brought by WhatsApp against a decision of the European Data Protection Board, it said in a statement on Wednesday. Following complaints about Whatsapp's (META.O) use of personal data in Ireland and a European Data Protection Board (EDPB) ruling on the issue, the Irish Data Protection commission in 2021 imposed corrective measures on Whatsapp and fines totalling 225 million euros. WhatsApp had challenged that decision before an Irish court and also requested that the European Court of Justice annul the EDPB's ruling, but the court ruled that Whatsapp's action was inadmissible. It added that the validity of the EDPB's decision could be challenged before a national court. Reporting by GV De Clercq, editing by Marine Strauss, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ A pair of jeans recovered in a shipwreck and believed to be made by Levi Strauss in 1857 just sold for $95,000
▼ + stars: | 2022-12-07 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

A pair of "miner's pants" recovered from an 1857 shipwreck were sold last week for a hefty price tag. This isn't the first time vintage Levi's recently sold for a small fortune: jeans from the 1880s sold for $76K in October. A pair of "miner's pants" recovered from an 1857 shipwreck were sold at an auction for a hefty price tag: $95,000. While the original color of the pants is unknown, the 5-button fly "strongly suggests these were an early manufacture of work pants sold by Levi Strauss," the auction site Holabird wrote. This isn't the first time Levi's jeans sold for a small fortune in recent history.

☆ Hulu customer claims an employee violated her privacy by using personal information to contact her after a virtual service chat
▼ + stars: | 2022-11-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

TikToker Aryan Strauss claims a Hulu employee contacted her from his personal email after a customer service chat. Strauss said she received an email from an employee named "John" after he helped her get a refund for a canceled Hulu subscription. In a series of videos, Aryan Strauss said a Hulu employee emailed her after she spoke with him about refunding her the money she was charged for canceling her subscription too late. The employee Strauss identified as "Jeff" promised John would undergo extra training to prevent another incident. In a Tuesday update video, Strauss said she still has yet to hear back from Hulu on the matter.

☆ The digital ad market will likely decline by 8% next year, says Arete Research's Rocco Strauss
▼ + stars: | 2022-11-30 | 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 EmailThe digital ad market will likely decline by 8% next year, says Arete Research's Rocco StraussRocco Strauss, Internet Analyst and Partner at Arete Research, joins Worldwide Exchange to discuss the technology sector.

BRUSSELS, Nov 24 (Reuters) - European Council President Charles Michel will meet Chinese President Xi Jinping in China on Dec. 1 to discuss a range of global challenges including the war in Ukraine, tensions over Taiwan and EU concerns about imbalanced economic ties. The visit comes after European leaders jointly expressed concern at a meeting last month about economic reliance on China. Michel was likely to stress the need to rebalance the EU-China economic relationship and the importance of abiding by global trading rules. Since 2019, the European Union has regarded China more warily, describing it then as a partner, an economic competitor and a system rival. Reporting by Marine Strauss @StraussMarine, Benoit Van Overstraeten; Editing by Alex Richardson, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ 'Aladdin' turns 30: Alan Menken on the journey of an animated classic
▼ + stars: | 2022-11-24 | by ( Dan Heching | ) edition.cnn.com time to read: +8 min

To mark the occasion, eight-time Oscar-winning composer Alan Menken, who nabbed two statuettes for his work on the movie, spoke with CNN about his memories from the making of the prescient classic. Alan Menken, composer: “Aladdin” was started almost simultaneously with “(The Little) Mermaid.” While we were still working on “Mermaid,” we had started “Aladdin,” had a whole take on it and it was shelved. We’re winking at everything and making fun.” We were making fun of a genre, but making fun of a genre clearly can bleed over to making fun of a people. Alan Menken, seen here this month, spoke to CNN about his memories of working on the animated 'Aladdin.' Alan Menken, lower right, with Ron Clements and John Musker and behind the scenes on 'Aladdin' in 1992.

☆ European Parliament declares Russia a state sponsor of terrorism
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Nov 23 (Reuters) - The European Parliament on Wednesday designated Russia as a state sponsor of terrorism, arguing Moscow's military strikes on civilian targets such as energy infrastructure, hospitals, schools and shelters violated international law. European lawmakers voted in favour of a resolution calling Russia a state sponsor of terrorism. Ukrainian President Volodymyr Zelenskiy has urged the United States and other countries to declare Russia a state sponsor of terrorism, accusing its forces of targeting civilians, which Moscow denies. U.S. Secretary of State Antony Blinken has so far refused to list Russia despite resolutions in both chambers of Congress urging him to do so. In the EU, the parliaments of four countries have so far designated Russia as a state sponsor of terrorism, according to the European Parliamentary Research Service: Lithuania, Latvia, Estonia and Poland.

☆ Supreme Court takes up Jack Daniel's case against dog toy compamy
▼ + stars: | 2022-11-22 | by ( Colbi Edmonds | ) www.nbcnews.com time to read: +2 min

Jack Daniel’s Whiskey has a bone to pick with a dog toy company, and the Supreme Court on Monday agreed to hear their case. VIP Products, an Arizona-based company, makes dog toys that resemble Jack Daniel's iconic whiskey bottles. Jack Daniel’s is arguing that the toys are a violation of federal trademark rights and tarnish the company’s brand. "VIP has never sold whiskey or other comestibles, nor has it used “Jack Daniel’s” in any way (humorously or not). The high court will likely hear arguments in the Jack Daniel's case early next year.

☆ Kobe Bryant's daughter Natalia, 19, seeks restraining order against alleged stalker
▼ + stars: | 2022-11-22 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

Natalia Bryant, the daughter of the late basketball legend Kobe Bryant, has filed a request for a restraining order against an alleged stalker in Los Angeles, court records show. The 19-year-old University of Southern California student filed for a civil harassment restraining order on Monday against Dwayne Cortez Toliver Kemp, 32, of Sun Valley, California. The filing states that Kemp allegedly started to harass her on social media in 2020 when she was just 17-years-old and he was 30. "Thankful For Him Birthing You, Hopefully We Can Birth Him… ‘Kobe,’” he wrote, the filing said. Vanessa Bryant and Kobe Bryant with daughters Natalia Bryant and Gianna Maria-Onore Bryant, right, at a 2018 premiere in Los Angeles.

☆ Levi's got its start making clothes for cowboys — now it's a Gen Z status symbol. Here's how the 169-year-old retailer became the world's most iconic denim company.
▼ + stars: | 2022-11-22 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +1 min

Jeans as we know them today were born decades later when Strauss teamed up with a tailor to create riveted pants. The Levi Strauss factory in San Francisco in 1882. He purchased fabric from Strauss and made button-fly pants, which were such a hit among customers, he decided to patent them. Modern-day jeans were born, though at the time, they were called "waist overalls" or simply "overalls." The name comes from the French word "Gênes," meaning Genoa, an Italian port city where sailors often dressed in denim, Vice reports.

Sale-leasebacks allow retailers to raise capital without shedding stores by selling the underlying real estate and turning them from landlords into tenants. They also point out that companies often spend the money on share buybacks and dividends rather than investing in their business. Spokespeople for Kohl's, Macellum and Ancora declined to comment. It is not clear how many of Kohl's 1,100 stores would have been involved in any deal. Reuters GraphicsRENT EXPENSESIn a letter to shareholders in March defending its strategy against criticism from hedge fund Macellum Capital Management LLC, Kohl's said that a "large" sale-leaseback would "negatively impact margins by adding unnecessary rent expenses in perpetuity and risk Kohl's investment-grade rating".

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Phoenix-based VIP's toy mimics the design of the Jack Daniel's bottle with comical dog-themed text alterations, like replacing "Old No. After Jack Daniel's sent a cease-and-desist notice, VIP asked an Arizona federal court in 2014 to rule that its toy did not infringe the whiskey company's trademark rights. Circuit Court of Appeals in 2020 overturned a judge's ruling in favor of Jack Daniel's, finding that VIP's toy was a creative work with a "humorous message" that was entitled to First Amendment protections. The Supreme Court last year rejected a request by Jack Daniel's to reconsider that ruling. Jack Daniel's told the high court that the decision made it "virtually impossible to stop misleading or tarnishing use of a mark whenever a copycat deploys 'humor.'"

☆ Pink pays tribute to Olivia Newton-John at the American Music Awards
▼ + stars: | 2022-11-21 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Pink performed a cover of “Hopelessly Devoted To You” at the American Music Awards in honor of the late singer and actress Olivia Newton-John. As she sang, photos of the “Grease” star were played on a screen behind her on stage at the Microsoft Theater. Newton-John died in August after a long battle with breast cancer. Carey Hart, left, Pink, right and their children Willow Sage Hart, from second left and Jameson Moon Hart. Jordan Strauss/Invision/AP“I had the pleasure of being around her several times and she was as darling as you would imagine,” Pink said of Newton-John to KABC during the preshow.

☆ Holiday shoppers aren’t in a rush. What that means for retail stocks
▼ + stars: | 2022-11-20 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

If you're a retailer, and it's the holiday season, the thing you most want consumers to feel is a sense of urgency. Unlike last year, holiday shoppers don't need to fear empty shelves at the store. Walmart said it saw more shoppers with incomes above $100,000 ring up items in its stores, drawn in by less expensive groceries. He suggests investors position themselves in discounters like Walmart or Family Dollar or in luxury stocks like RH or Lululemon . She explained that many shoppers perceive Target as a place where "you go in for two items and come out $150 later."

☆ Kohl's pulls full-year outlook, citing retail volatility and economic headwinds
▼ + stars: | 2022-11-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The Kohl's logo is displayed on the exterior of a Kohl's store on January 24, 2022 in San Rafael, California. Kohl's on Thursday withdrew its full-year outlook, pointing to volatility in the retail environment and significant macroeconomic headwinds, on top of its "unexpected CEO transition." Kohl's also reported third quarter earnings on Thursday, with revenue dropping 7% to $4.28 billion. The company warned investors of this drop in revenue earlier this month when it provided preliminary results for the quarter. Kohl's has been under pressure from activist investors as its sales have declined and its stock has slumped.

☆ 8 retails stocks to buy from top analysts as Target signals tough times for the sector
▼ + stars: | 2022-11-16 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Target on Wednesday reported that its profit fell by 50% as it tried to clear out excess inventory in the third quarter. To find a list of top-ranked retail stocks, CNBC Pro searched Tipranks for names in the sector rated at least a "strong buy" and with a more than 20% upside to the consensus price target. Callaway Golf has the largest upside to its consensus price target, with analysts saying it could surge more than 79% from where it currently trades. Jefferies boosted its price target on the name after its third-quarter earnings beat expectations and it raised its guidance for the fourth quarter. The company is strongly backed by Wall Street and has a more than 43% upside to its consensus price target as it's been beaten up this year.

☆ Decision on negotiations with Russia is up to Ukraine, EU top diplomat says
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Nov 14 (Reuters) - It is up to Ukraine to decide when to enter negotiations with Russia, the European Union's top diplomat said on Monday, commenting on speculations the West might push Kyiv to start talks with Moscow. "Ukraine will decide what to do. Our duty is to support them", EU foreign policy chief Josep Borrell said as he arrived for a meeting of the bloc's foreign ministers in Brussels. Reporting by Sabine Siebold and Marine StraussOur Standards: The Thomson Reuters Trust Principles.

☆ Emirates REIT proposes new sukuk refinancing, ad hoc group gives nod
▼ + stars: | 2022-11-14 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

Fitch had downgraded Emirates REIT by several notches after it made the exchange offer. It is offering sukuk holders, for each $1,000 in face amount of their sukuk, $950 in face amount of new notes and $50 in cash. Emirates REIT needs 75% of its creditors to consent to the proposal to exchange the outstanding unsecured sukuk with secured ones. The group includes Arkkan Capital Management Limited, Rasmala Investment Bank Limited, GFH Financial Group, Sancta Capital, SC Lowy Primary Investments, Plenisfer Investments, Emirates NBD Asset Management, Shuaa Capital and Saray Capital. The group said it had been in talks with Emirates REIT for several months "to reach agreement on transaction terms that would provide satisfactory structural protections and economic returns for the holders of the new secured certificates".

☆ EU sanctions to target Iran Guards 'inner circle', Germany says
▼ + stars: | 2022-11-14 | by ( Sabine Siebold | ) www.reuters.com time to read: +3 min

BRUSSELS, Nov 14 (Reuters) - Fresh European Union sanctions will target the "inner circle of power" of Iran's Revolutionary Guards, Germany said on Monday as the bloc convened to respond to what it has condemned as Tehran's widespread use of force against peaceful protesters. So far, 336 demonstrators have been killed in the unrest and nearly 15,100 detained, according to the activist HRANA news agency. "New sanctions will target in particular the inner circle of power of the Revolutionary Guards and the structures financing them." EU foreign policy chief Josep Borrell said the decision on talks was up to Ukraine. EU foreign ministers will discuss increasing support for Kyiv during the winter and also touch on a ninth package of sanctions on Russia, though diplomats say no decision is expected yet.

☆ The future of FTX and Sam Bankman-Fried is now in the hands of these 3 lawyers who have worked for Enron, Michael Milken, and Elon Musk
▼ + stars: | 2022-11-11 | by ( Jack Newsham | ) www.businessinsider.com time to read: +7 min

A senior Paul Weiss lawyer has been hired to defend FTX founder and ex-CEO Sam Bankman-Fried. FTX said on Twitter that a sprawling group of companies founded by Bankman-Fried, known as SBF, filed for Chapter 11 bankruptcy in Delaware. The new CEO of FTX is John J. Ray III, a lawyer-turned-executive with a colorful past leading troubled companies, most notably Enron. The firm Paul Weiss and its lawyer Martin Flumenbaum, who represented the junk-bonds king Michael Milken, are representing Bankman-Fried personally. John J. Ray IIIRay joined FTX as CEO just in time to sign its bankruptcy filing.

☆ ArcelorMittal's Q3 profit beats expectations on energy savings
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Nov 10 (Reuters) - ArcelorMittal (MT.LU), the world’s second-largest steelmaker, reported higher-than-expected third-quarter earnings on Thursday as cost cutting and energy savings offset declining demand. The Luxembourg-based company said third-quarter core profit (EBITDA), the figure most watched by the market, was $2.7 billion. This was less than half the year-ago figure, but higher than the average forecast in a company poll of $2.34 billion. ArcelorMittal said it had cut its gas consumption in Europe by 30% in a bid to counter surging energy prices, as a slowdown in economic growth across the globe weakened demand for steel. The company said that in the face of weaker demand and higher energy costs, it had cut capacity accordingly, adding that demand should pick-up once industry destocking was completed.

A conflict could arise in the future, if, for example, Aearo and 3M disagreed about the terms of a future settlement, Graham said. If that happened, Kirkland could face disqualification, loss of fees, or even potentially the dismissal of Aearo's bankruptcy case, according to the judge. Kirkland has defended 3M in the MDL, and it represents Aearo in the bankruptcy case that was meant to spur a settlement of the earplug lawsuits. The plaintiffs and the U.S. Department of Justice's bankruptcy watchdog sought to disqualify Kirkland from representing Aearo in the bankruptcy, saying it could not faithfully serve both Aearo and 3M. The case is Aearo Technologies LLC, U.S. Bankruptcy Court for the Southern District of Indiana, No.

☆ Michelle Gass' lengthy retail experience is why she'll be CEO at Levi Strauss, says current CEO
▼ + stars: | 2022-11-09 | 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 EmailMichelle Gass' lengthy retail experience is why she'll be CEO at Levi Strauss, says current CEOChip Bergh, current Levi Strauss CEO, joins 'Closing Bell' to discuss Michelle Gass leaving Kohl's and stepping into Levi Strauss, what he would tell investors about Gass's potential success at Levi Strauss and more.

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