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☆ Richemont digital strategy goes back to square one
▼ + stars: | 2023-11-29 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsMILAN, Nov 29 (Reuters Breakingviews) - Johann Rupert’s digital strategy may be heading back to the drawing board. But even if Rupert can extricate himself from the Farfetch situation, Richemont’s digital plans will still be unclear. In August 2022 Richemont agreed to sell a 47.5% stake in its digital platform, Yoox Net-A-Porter, to Farfetch. Shares in Richemont were up 1.5% by 1100 GMT on Nov. 29.

Persons: Denis Balibouse, Johann Rupert’s, Porter, Cartier, Rupert, Farfetch, José Neves, Richemont, Financiere Richemont, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, The Telegraph, Financiere, Telegraph, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, U.S, YNAP, New York, Richemont

☆ A viral $16 McDonald’s meal won’t go away, and that’s a problem for Democrats
▼ + stars: | 2023-11-27 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Take the $16 McDonald’s meal that struck a nerve on TikTok late last year. Of course, fast food prices have gone up along with everything else in the past few years, but not by as much as the TikTok video suggests. Because the vast majority of McDonald’s restaurants in the United States are independently owned, prices vary from region to region. The social media megaphoneIn an era before TikTok or YouTube, a $16 burger moment would have lasted a few seconds. The real beefPerhaps the more significant economic takeaway from the viral McDonald’s meal is not that the meal actually cost $16 but that the man paid for it.

Persons: CNN Business ’, ”, …, there’d, Joe Biden’s, , —, Biden, Topher Olive, Olive, pollsters Organizations: CNN Business, New York CNN, New York Post, Democratic, Mac, CBS News, CNN, White, Office, Digital Strategy, Washington Post, Consumer Locations: New York, Idaho, America, United States, Darien , Connecticut

☆ Musk's Starlink secures $90 mln contract to offer free internet in Mexico
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

SpaceX founder and Tesla CEO Elon Musk speaks on a screen during the Mobile World Congress (MWC) in Barcelona, Spain, June 29, 2021. REUTERS/Nacho Doce/File Photo Acquire Licensing RightsMEXICO CITY, Nov 15 (Reuters) - Starlink, the satellite internet service of billionaire Elon Musk, has secured a 1.56 billion peso ($89.80 million) contract to offer free internet in Mexico until the end of 2026, a Mexican government official said on Wednesday. Mexico has signed contracts for free internet with nine companies, including Starlink, Calderon added. Starlink is also set to provide infrastructure for Mexico's state energy firm through December 2026, according to documents seen by Reuters. The contract to work with Mexico's Comision Federal de Electricidad (CFE) is valued at between 887.5 million pesos and 1.8 billion pesos.

Persons: Elon Musk, Nacho, Musk's, Carlos Emiliano Calderon, Calderon, Raul Cortes Fernandez, Sharon Singleton Organizations: SpaceX, Mobile World Congress, REUTERS, MEXICO CITY, Starlink, Reuters, Mexico's Comision, Thomson Locations: Barcelona, Spain, MEXICO, Mexico

☆ Social and influencer-marketing agency The Fifth, part of Murdoch's News Corp, is shutting down its UK talent division
▼ + stars: | 2023-11-14 | by ( Marta Biino | ) www.businessinsider.com time to read: +3 min

The Fifth, a social-creative agency originating in the UK, is shutting down its talent-management arm in the country, the company confirmed to Business Insider. The company is part of News UK, a media conglomerate that operates news outlets like The Times, The Sunday Times, and The Sun. The Fifth was founded in 2019 by Oliver Lewis, formerly News UK's director of digital strategy and partnerships, and The Fifth's talent division was launched a year later. Citing changes in the UK market, the company said it had decided to focus its efforts on the social-creative and influencer-marketing side of the business. Do you work at The Fifth or other talent management firms in the UK or have insight to share?

Persons: Oliver Lewis, It's, Dan Wang Organizations: Business, News UK, Times, Sunday Times, Sun . News, Rupert Murdoch's News Corp, Eurostar, BareMinerals, Columbia Business School

☆ Advertisers pumped up to 90% of their Google ad spend into its AI tool, and some are now questioning whether it's actually performing.
▼ + stars: | 2023-11-06 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +6 min

Performance Max also drove retailers' spend with Google's shopping ad products up 16% year-over-year, according to Tinuiti. Digital agency Arm Candy said that 45% of retailers' Google spend is handled with Performance Max. Specifically, the source said that the return on ad spend of Performance Max campaigns started slowing down this summer. Brand search campaigns are when companies buy search ads against their own brand names, like Hershey's buying "Hershey's" keywords, for example. Advertisers that like Google's AI say it helps them find new customersGoogle has tried to address advertisers' concerns about what Performance Max buys.

Persons: Max, Belardi Wong, Candy, Max proliferates, Zach Thompson, Thomas, We've, Merkle, Brendon Kraham, Brand, Google's Kraham, Calla Murphy Organizations: Google, YouTube, Max Locations: ROAS

Butler, a Democratic insider and former labor leader, had never held public office before joining the Senate. Under California election rules, the two candidates who receive the most votes advance to the November general election, regardless of party. But to Democratic consultant Garry South, who has run six statewide campaigns in California, including for former Gov. Then, on the campaign side, Butler could talk about Democratic legislative wins and building on Feinstein’s legacy. National Democratic fundraising could pose a challenge in 2024, since the California Senate seat is expected to stay in Democratic hands when control of the chamber will be decided elsewhere.

Persons: Sen, Dianne Feinstein, Laphonza Butler, Gavin Newsom, Butler, Feinstein, Katie Porter, Adam Schiff, Barbara Lee —, Steve Garvey, coy, she’s, I’m, ”, “ It's, Schiff, Nancy Pelosi, Newsom, “, Rebecca Pearcey, Elizabeth Warren’s, “ It’s, Garry South, Gray Davis, ’, ” Newsom, Kamala Harris ’, Newsom’s, Lee, ” Schiff, Porter, Pearcey, ” Pearcey, Washington gridlock, Butler “, she'll Organizations: ANGELES, Democratic, Senate, Democratic House, Associated Press, ., Gov, Airbnb, Capitol, Democratic Party, National Democratic, California Senate Locations: U.S, California, Washington, Laguna Niguel, Los Angeles

"Social media is the new way of doing politics," said Eugenia Rolon, an 21-year-old influencer who describes herself as anti-feminist and fighter of a "cultural battle" against progressive ideas. Cerimedo said social media support for Milei was organic, and played down previous comments he made to local media that he had used AI-powered trolls. "Many people said Javier was going to do poorly because what happened on social media was my trolls," Cerimedo said. Agustin Romo, 27, a legislative candidate for Buenos Aires province with Milei's Libertad Avanza party, informally coordinates the social media team. "These are people who are contributing their grain of sand where they can, so that Argentina changes and Javier Milei becomes president," Romo said.

Persons: Javier Milei, Karina Milei, Agustin Marcarian, Elon Musk, Eugenia Rolon, Donald Trump, Jair, Milei, That's, Sergio Massa, Patricia Bullrich, Tucker Carlson, Bolsonaro, Diego Corbalan, Bullrich, Jeremias Madrazo, Madrazo, Massa, Inaki Gutierrez, Argentine, Fernando Cerimedo, Cerimedo, Javier, Carlson, Musk, overspending, Agustin Romo, Romo, Anna, Catherine Brigida, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, REUTERS, Elon, YouTube, Reuters, Peronist, Buenos, Milei's Libertad, Thomson Locations: La Plata, Buenos Aires, Argentina, BUENOS AIRES, Massa, Milei's Libertad Avanza, Candelaria

☆ After a year of chaos, CNN bets on new CEO Thompson to focus on long-term viability
▼ + stars: | 2023-09-19 | by ( Alex Sherman | ) www.cnbc.com time to read: +5 min

Entelis, Moseley, Sherling and Leavy all plan to stay at CNN as Thompson takes over as CEO, according to people familiar with the matter. Programming CNN MaxBefore joining The New York Times, Thompson was director-general — a combination of chief executive and editor-in-chief — of the British Broadcasting Corporation. He'll have a chance to develop new shows at CNN Max, a tab in Warner Bros. With CNN Max, Thompson will try to program for a younger audience. Thompson will have some runway to invest in CNN Max.

Persons: Brandon Bell, Mark Thompson, Thompson, Donald Trump, Entelis, CNN hasn't, Licht, Jeff Zucker, Andrew Morse, CNN Max, CNN's, —, Zucker, Jason Kilar, Max, JB Perrette, Gabelli's Kevin Dreyer Organizations: CNN, Getty, Licht, Warner Bros . Discovery, Republican, The New York Times, Times, New York Times, CNN.com, Athletic, British Broadcasting Corporation, Warner Bros, U.S, Variety, Disney Locations: Atlanta , Georgia, Thompson's, Moseley, Sherling

☆ Cash in or lose out: Banks are turning to AI, cloud computing, and Web3 to gain competitive advantage and customer loyalty
▼ + stars: | 2023-09-05 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +11 min

AI and cloud tech are giving some banks an edge over competitors and enticing brand loyalty. Traditional banks that ignore this reality risk losing loyal customers to digital banks that have emerged over the past few years, research suggests. Digital transformation is a must for banksWith online banking now the norm, digital transformation is no longer optional for banks. Legacy banking systems were not designed to provide the banking experience that people expect today," she said. As a result, banking customers and employees can view transactions in real time and deliver "a more seamless and personalized experience" for all stakeholders, she added.

Persons: Banks, Victoria Newton, Newton, Laura Merling, Merling, Jay Venkateswaran, WNS, Eno, Goldman Sachs, Nigel Vaz, Publicis, Publicis Sapient Nigel Vaz, Venkateswaran, Vaz, James Whybrow Organizations: Service, Starling Bank, Arvest Bank, Banking, Capital One, Microsoft, Bank of America, Amazon Web Services, Google, Economist Intelligence Unit, Arvest, Software AG, Software Locations: Wall, Silicon, It's, Starling, WNS, Morgan

☆ BeReal is set to make its first marketing hire — but experts say it could be too late for the app to recapture its early buzz
▼ + stars: | 2023-09-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

BeReal recently posted a job ad for its first-ever communications and marketing lead. Social-media experts said it's probably too late for BeReal to recapture its early buzz. BeReal, the French photo-sharing app startup, is set to make its first-ever marketing hire but social-media experts say it may be too late to recapture the early buzz. But BeReal appeared to have missed its moment to capitalize on its surge in popularity in 2022, experts have said. Ultimately, it could be too late for BeReal to turn itself around without a substantial pivot, experts said.

Persons: BeReal, it's, they've, Colin Kennedy, influencers, Kennedy, Paul Armstrong, Armstrong Organizations: US App Stores Locations: BeReal, Europe

☆ How insiders are reacting to Mark Thompson, CNN's new CEO, and how they think he'll tackle the network's challenges: 'He wants to be involved in editorial'
▼ + stars: | 2023-08-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

WBD named Mark Thompson as CNN's new CEO in a shift by David Zaslav to an experienced news leader. Thompson is widely credited with turning the Times into a digital powerhouse, transforming a news organization that was teetering financially. Under Thompson, there also were flops along the way to success for the Times, like the failed NYT Now mobile app. Thompson is expected to be involved in editorialObservers and insiders expressed optimism about the Thompson news. They also will be watching to see how he will carry out WBD CEO David Zaslav's commitment to providing a wider range of political viewpoints, including conservative ones.

Persons: WBD, Mark Thompson, David Zaslav, Thompson, Chris Licht, Ken Doctor, Meredith Kopit Levien, who'd, Times —, Levien, Nate Silver, Jill Abramson, Abramson, wouldn't, Mark, Donald Trump, David Zaslav's, He'll, Jeff Zucker, I've, Zaslav, Licht, he'd, Semafor, James Harding, Andrew Ross Sorkin, he's, Jonathan Miller, Miller, Amy Entelis, David Leavy, Virginia Moseley, Eric Sherling, who's, Leavy Organizations: CNN, New York Times, Warner Bros, Discovery, Max, longtime Times, Times, ESPN, ABC, Observers, BBC, Company, Integrated Media Co, Editorial Locations: British

☆ All the major retailers have started using Meta's new Threads platform — except Costco
▼ + stars: | 2023-07-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

All of the largest retailers have activated their accounts, with the notable exception of Costco. That's not to say Costco doesn't have a presence on Threads — it's just not official. Dozens of Costco fan pages have already activated their accounts and are racking up thousands of followers. Unless Threads shows it can drive those two behaviors, it seems the famously frugal Costco will be content to sit this one out. Look no further than its official Twitter account, which contains zero posts and a bio reading, "Our Twitter account is currently inactive.

Persons: That's, Costco execs Organizations: Costco, Service, Twitter, Walmart, Kroger, Facebook Locations: Meta, Wall, Silicon

☆ Forget the hype: Barclays identifies global 'A.I. winners' for the long term
▼ + stars: | 2023-07-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Barclays has named several global stocks that are expected to do well as the usage of artificial intelligence-related services evolves. The investment bank acknowledged that hardware and infrastructure giants, most notably Nvidia and Microsoft , are currently seeing the immediate benefits of the AI hype. Still, over the long term, it said businesses in the service sector could cash in significantly. The companies in Barclays' "Global AI Winners" basket include Canada-headquartered Telus and France's Capgemini . The below table highlights non-U.S. stocks in Barclays' basket of AI stocks.

Persons: FactSet, Emmanuel Cau, Capgemini, Goldman Sachs Organizations: Barclays, Nvidia, Microsoft, Telus, France's, Tech, Companies, Tokyo Electron, SoftBank Group, SAP, UK's Sage Group, ASM Locations: Canada, U.S, Taiwan, Tokyo, Europe, Amsterdam

☆ South Korea wants to be a top A.I. hub — its chip dominance could be an advantage
▼ + stars: | 2023-07-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Jung Yeon-je | Afp | Getty ImagesSouth Korea's dominance in the memory chip market and a robust artificial intelligence ecosystem gives it an advantage in the global AI chip race, said industry observers. South Korea dominating in the memory market is definitely an advantage," said James Lim, senior research analyst at Dalton Investments. "South Korea seeks to emerge as a prominent player in rapidly growing and promising areas such as AI semiconductors," said Lee. "South Korea has a robust local AI ecosystem, capable of competing with global tech giants," said Sung Nako, executive for large scale AI development at South Korean internet giant Naver. ChatGPT maker OpenAI's CEO Sam Altman had urged South Korea to lead AI chip production during his meeting with South Korean President Yoon Suk-yeol in June.

Persons: Jung Yeon, James Lim, Lee, Dylan Patel, SemiAnalysis, ., TrendForce, Sung Nako, Sam Altman, Yoon Suk, Altman, Dalton's Lim, Geoffrey Cain Organizations: Getty, Dalton Investments, CNBC, Samsung, SK Hynix South, Samsung Electronics, SK Hynix, Science, Micron, South, South Korean, Nvidia, Intel Locations: Seoul, Korea, South Korea, China, U.S

☆ The Thrill of New York, Despite an Awful Lot of One-Month Rentals
▼ + stars: | 2023-06-19 | by ( Debra Kamin | ) www.nytimes.com time to read: +1 min

“I messaged the girl whose room we rented, and I remember asking her, ‘How did you move to New York? How much did it cost?’ I got all the information I could from her, because I was so interested in hopefully living there one day,” said Ms. Pearce. By late 2021, with international travel again sanctioned, she had waited long enough. She got the windowless sublet, but knew that if she didn’t also get a job, she would have to leave the country when her 90-day tourist visa expired. So she focused on her job search, as well as studying for a graduate certificate in marketing and digital strategy, which she was earning online.

Persons: ”, Pearce, “, didn’t Locations: New York, Australia, United States

☆ Who will be the next CEO of CNN? 12 execs who could be in the running to replace Chris Licht, according to company insiders and news veterans.
▼ + stars: | 2023-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Warner Bros. Discovery chief David Zaslav is faced with finding another CEO for CNN after Chris Licht's exit. Just over a year after appointing Chris Licht to run CNN, Warner Bros. Discovery chief David Zaslav now faces the task of finding his replacement. He might look for a woman or person of color to bring diversity to a Warner Bros.

Persons: David Zaslav, Chris Licht's, Amy Entelis, Chris Licht, Zaslav, he's, he'll, CNN's, WBD, that's, Licht, Virginia Moseley, Eric Sherling, David Leavy, Claire Atkinson Organizations: Warner Bros . Discovery, CNN, Company, that's, Warner Bros, Discovery, Comcast

☆ Who will replace Chris Licht as CEO at CNN? These 12 execs could be in the running, according to company insiders and news veterans.
▼ + stars: | 2023-06-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

☆ CNN management focused on 'listening' and 'getting back to work' as the network moves on from Chris Licht
▼ + stars: | 2023-06-08 | by ( Trisha Gopal | Lucia Moses | ) www.businessinsider.com time to read: +9 min

A trio of longtime executives have taken charge at CNN following the exit of Chris Licht. There's a moment in Tim Alberta's brutal profile of CNN's now-former CEO Chris Licht where Licht awkwardly takes a jab at his predecessor Jeff Zucker. The following Monday, as Licht attempted to quell growing calls for his ouster, Licht told CNN staff: "As I read that article, I found myself thinking, CNN is not about me. Jeff Zucker and Chris Licht at an event in 2019, back when Zucker still ran CNN and Licht was the showrunner on The Late Show on CBS. If Licht was seen as mismanaging CNN's top talent, Entelis, in particular, is known to be the queen of talent.

Persons: Chris Licht, David Leavy, Amy Entelis, Tim Alberta's, CNN's, Licht, Jeff Zucker, Zucker, Donald Trump, Christiane Amanpour . Licht, Anderson Cooper, Jake Tapper, Kara Swisher, Mike Coppola, — Licht, Virginia Moseley, Eric Sherling, Wolf, David Zaslav, Zaslav, WBD, Leavy, We're, — Leavy, I'm, Kaitlan Collins, Don Lemon's, Poppy Harlow, Licht's, PATRICIA DE MELO MOREIRA, Jonathan Miller, Entelis, Peter Jennings, Ted Koppel, Anthony Bourdain, Eric Ripert, Masa Takayama, Turner, Lisa Ling's, Bell, Tapper —, CNN —, She's, — Organizations: CNN, Morning, Vox Media, CBS, ABC, Warner Bros, Warner Bros Discovery, HBO, Getty, BBC News Board, Integrated Media, CNN Worldwide, Masa Locations: Trump, Japan, America

☆ International tipping: How to cut through the chaos and confusion
▼ + stars: | 2023-05-29 | by ( Forrest Brown | ) edition.cnn.com time to read: +15 min

In the United States, “tipping is very customary. Leighton also said you won’t find a tipping culture on the island of Taiwan. Robinson said the tipping culture is less pervasive in Sicily than the United States and even more laid-back than in Rome. As for tipping culture in the US vs. the UK, Ryan Burditt said, it’s “really opposites to me. Robert Knopes/Education Images/Universal Images Group/Getty ImagesVisitors to the United States could be in for some tipping culture shock.

☆ U.S. Midwest grid operator flags urgent need for market reforms
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

The reforms are needed "to maintain reliability and send the right pricing signals to the market," said Clair Moeller, president and CEO at Midcontinent Independent System Operator (MISO). For the zone which covers most of Louisiana and southeast Texas, the clearing prices for fall and winter were $59/MW-day and $19/MW-day, respectively. Market participants who postpone the retirement of resources and import additional capacity this year may not be able to repeat those measures in the future, said Moeller. "We continue to see uncertainty and volatility in the auction results year-over-year, and managing the system in real-time is becoming more challenging," Moeller added. Reporting by Deep Vakil in Bengaluru; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Do digital transformations drive or destroy market value?
▼ + stars: | 2023-05-05 | by ( Sponsor Post | Created Deloitte With Insider Studios | ) www.businessinsider.com time to read: +7 min

Tim Smith, Deloitte Consulting's US leader for technology strategy & business transformationWhat digital actions drive the most market value? Digital Strategy adds value: Businesses that are making digital bets in line with enterprise strategy see market value gains, according to Deloitte's Unleashing Digital Transformation value analysis of over 4,500 publicly listed companies. Compared with digital strategy value gains, this action drove double the market value, according to our analysis. "While challenges may be ample across digital initiatives, our research revealed two risks to market value — both relate to digital change capability in unexpected ways." Digital strategy and strategy-aligned tech investments together — without a digital change capability — destroy the most value: Our analysis made it clear that digital change capability is a wild card.

☆ Targeting the Customers of Today and Tomorrow
▼ + stars: | 2023-05-04 | 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 EmailTargeting the Customers of Today and TomorrowCustomer patterns have drastically shifted over the past three years, with many now prioritizing connection, values, and special incentives. We'll look at the e-commerce platform used by over one million small businesses globally to examine how to get to know your customers on a deeper level, and why enhancing your digital strategy is key to capturing new business.

☆ Walmart sells plus-size clothing brand Eloquii, offloading its third digital brand this year
▼ + stars: | 2023-04-21 | by ( Courtney Reagan | ) www.cnbc.com time to read: +3 min

Walmart is selling online apparel brand Eloquii to FullBeauty Brands, marking the retailer's third divestiture of a direct-to-consumer brand this year. The retailer bought Eloquii in 2018 for a reported $100 million, one of numerous digital apparel brands with niche and loyal consumer bases. Fogarty plans for Eloquii to be an anchor in what he calls FullBeauty Brands' "digital mall." After acquiring Eloquii, Walmart created a new brand of inclusive-sized apparel, which the retailer will continue to sell after the divestiture. Walmart's online sales now make up 13% of total annual sales, as of its most recent fiscal year-end, up from 5% in 2019.

☆ Should parents decide what their kids do online? These states think so
▼ + stars: | 2023-04-15 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

That, at least, is the vision emerging from a growing number of states introducing — and in some cases passing — legislation intended to protect kids online. Now, in the absence of federal legislation, states are taking action, and raising some alarms in the process. On the surface, providing more guardrails for teens is a step forward that some parents may welcome after years of worrying about the potential harms kids face on social media. “Not all parents are passionate, kind and supportive of their kids, and even the ones who are don’t have the capacity or time to deal with the 24/7 nature of social media,” said Heitner. “It’s an unfair burden.”Enforcement issuesGiven that the bills are unprecedented, it’s unclear how exactly social media companies will adapt and enforce it.

☆ Biden's 'social media army:' New digital strategy uses influencers to reach voters
▼ + stars: | 2023-04-10 | 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 EmailBiden's 'social media army:' New digital strategy uses influencers to reach votersHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Sophia Cai, national politics reporter for Axios, and Joanne Lipman, Yale University lecturer, join the show to discuss a White House effort to create a 'social media army' ahead of the 2024 presidential election.

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