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☆ Some of Temu's children's clothes contained up to 622 times the legal limit for toxic substances, South Korean authorities say
▼ + stars: | 2024-11-25 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

South Korean authorities said a jacket from Temu contained 622 times the legal limit for such substances. The substances include phthalate plasticizers, lead, and cadmium, which are classified as hazardous in the country. Some children's clothes from Chinese fast fashion retailer Temu contained up to 622 times the legal limit for toxic substances, the Seoul Metropolitan Government said. A jumpsuit from Temu contained 294 times the legal amount of phthalate plasticizers, the report said. AdvertisementThe same investigation revealed that sandal insoles sold by Temu contained 11 times more lead than legally permissible.

Persons: plasticizers, Temu Organizations: Seoul Metropolitan Government, Pakistan recycles, AFP, US Department of Health, Human Services, PDD Holdings, Business, Seoul Metropolitan, Bloomberg Locations: Seoul, Pakistan, South Korea, Korea

☆ We're excited to invite the country and world back, says San Francisco Mayor-elect Daniel Lurie
▼ + stars: | 2024-11-25 | 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 EmailWe're excited to invite the country and world back, says San Francisco Mayor-elect Daniel LurieCNBC’s Kate Rogers joins 'The Exchange' to discuss her sit down with San Francisco's new Mayor-elect Daniel Lurie to talk about bringing remote workers back, making the city safer and diversifying business beyond tech.

Persons: Daniel Lurie, Kate Rogers Organizations: San Francisco Mayor

☆ The new features bringing new passengers to cruise ships
▼ + stars: | 2024-11-25 | by ( Natasha Chen | ) edition.cnn.com time to read: +7 min

In 2029, the Oriental Land Company, which owns Tokyo Disney Resort, will launch a Disney cruise ship out of Japan. So to bring the brand over in terms of a cruise ship is again another brilliant move on their part. Occupancy is high on Disney ships, at 98% across the five existing ships in fiscal year 2024, according to a company fact sheet. Bigger players, such as Carnival Corporation, Royal Caribbean Group and Norwegian Cruise Line, have more ships in their fleet than Disney Cruise Line and have been in the business longer. Royal Caribbean's Icon of the Seas is currently the world's largest cruise ship, and it's loaded with family friendly attractions.

Persons: “ Coco, ” That’s, ”, Beci Mahnken, Kent Phillips, Mahnken, Kyle Valenta, Disney, ” Valenta, “, ” Mahnken, Thomas Mazloum, ” Mazloum, Joe Raedle, Valenta Organizations: CNN, “, MEI, Disney, Cruise Lines International Association, Cruise, Oceaneer Club, Disney Treasure, Disney Disney, Oriental Land Company, Tokyo Disney Resort, Hong Kong Disney, Tokyo Disney …, Shanghai Disney, Disney Cruise, Geographic, Disney Vacation, Carnival Corporation, Royal Caribbean Group, Royal Locations: Asia, Singapore, Tokyo, Japan, Hong Kong, Shanghai, It’s, Hawaii, Royal Caribbean

☆ Germany’s Thyssenkrupp Steel to lay off thousands of workers
▼ + stars: | 2024-11-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Thyssenkrupp Steel has announced plans to eliminate 11,000 jobs by the end of this decade — about 40% of its workforce — becoming the latest German industrial giant to opt for drastic action to prop up its fortunes. “Increasingly, (global) overcapacity and the resulting rise in cheap imports, particularly from Asia, are placing a considerable strain on competitiveness,” Thyssenkrupp Steel said in a statement. Thyssenkrupp, Germany’s largest steel producer, joins the country’s biggest manufacturer Volkswagen in setting out a major overhaul to cut costs and bolster competitiveness. The German automaker also plans to close at least three factories in its home country and lay off tens of thousands of staff. “Locational weaknesses” include high energy costs, onerous red tape, and outdated physical and digital infrastructure.

Persons: Steel, carmaker Ford Organizations: London CNN, Thyssenkrupp, European, European Commission, Volkswagen, Federation of German Industries, Boston Consulting Group, German Economic Institute Locations: Asia, Ukraine, German, Europe, Germany, United Kingdom, Thyssenkrupp

☆ Weprin: Wicked' is the fifth biggest weekend this year. Universal and Paramount are happy."
▼ + stars: | 2024-11-25 | 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 EmailWeprin: Wicked' is the fifth biggest weekend this year. Universal and Paramount are happy." Alex Weprin, Media & Business Writer at The Hollywood Reporter, discusses the success of "Wicked" and "Gladiator 2" at the box office. "Wicked" earned over $114 million, making it the fifth biggest weekend of the year, while "Gladiator 2" brought in $55 million.

Persons: Alex Weprin Organizations: Universal, Paramount, Media, Business, Hollywood

☆ The Philippines' vice president has publicly threatened to assassinate her boss and his wife
▼ + stars: | 2024-11-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

Vice President Sara Duterte said on Saturday that she'd spoken to a hitman to kill her boss and his wife. Philippine Vice President Sara Duterte openly threatened on Saturday to assassinate the country's president, marking the deepest fracture yet in an alliance they once formed for the 2022 election. AdvertisementEduardo Año, national security advisor to the president, added that authorities considered Duterte's threat a "matter of national security." But she also blasted the national security council, saying that its responsibilities related to the safety of the country, not a vice president's remarks about a president. AdvertisementA partnership doomed from the startIn the Philippines, the vice president and president are elected separately and don't necessarily hail from the same party or ideology, though Duterte and Marcos positioned themselves as running mates.

Persons: Sara Duterte, Duterte, I've, Ferdinand, Bong Bong, Marcos, you'll, BBM, Liza Araneta, Martin Romualdez, Eduardo Año, Duterte's, Rodrigo Duterte, Ferdinand Marcos Sr, Ronald Holmes, gunning, —, Jorge Tigno, that's, Holmes, Tigno Organizations: of Representatives, voters, De La Salle University, of Education, Lawmakers, University of, Duterte, Senate, Business Locations: Philippines, Manila, China, Southeast

☆ Influencers are using AI 'women' to lead people to OnlyFans and Fanvue — where more AI awaits
▼ + stars: | 2024-11-25 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

And some people are selling courses for $220 on how to make your own lucrative AI adult creator. The articles said a crop of new Instagram influencers had amassed large followings and even secured brand deals. Some of these AI influencers, like Lil Miquela, are a sort of artsy commentary on the nature of influencing or something conceptually interesting. AdvertisementOne of the most popular AI influencers had a link in her bio to a profile on Fanvue, an OnlyFans competitor. One person is selling a course for $220 on how to make money with AI adult influencers.

Persons: Fanvue, influencers, Lil Miquela, —, Insider's Marta Biino, I'm Organizations: Media Locations: Fanvue

☆ Intel and Commerce Department close to finalizing roughly $8 billion CHIPS Act grant, source says
▼ + stars: | 2024-11-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Chipmaker Intel and the CHIPS Act Office are close to finalizing a deal which would award the company a roughly $8 billion grant, according to a person familiar with the matter, as the Biden administration moves to dole out funds before President-elect Donald Trump's inauguration. The U.S. awarded Taiwan Semiconductor Manufacturing Co. a $6.6 billion grant earlier this month, raising investor expectations that cash funding for Intel would come soon. Intel has benefited from CHIPS Act tax breaks but has not yet received cash awards, something which Intel CEO Pat Gelsinger has expressed dissatisfaction with. "We're frustrated that hasn't moved faster," Gelsinger told CNBC in October, referring to the CHIPS Act grants. U.S. House Speaker Mike Johnson had previously said he might look to repeal the bipartisan CHIPS Act, but he then walked back those comments.

Persons: Biden, Donald Trump's, Intel's, Pat Gelsinger, hasn't, Gelsinger, They've, Mike Johnson, acquirers Organizations: Intel, Commerce Department, Department of Defense, Street Journal, The New York Times, U.S, Taiwan Semiconductor Manufacturing, CNBC, Qualcomm Locations: Intel's

☆ Inside the Trump-Fueled Lobbying Frenzy From Mar-a-Lago to Washington
▼ + stars: | 2024-11-25 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +9 min

Never before, lobbyists say, has the geographic center of power shifted so dramatically with the arrival of a new administration. By leveraging his access to Trump, Ballard Partners was able to compete with the old white-shoe lobbying firms that have been the industry's dominant players for decades. Corporate clients need lobbyists who appreciate that Trump is "disrupting the status quo in Washington," Sayfie, the Ballard lobbyist, says. Some major companies, lobbyists say, have been caught off guard by the rapid pace of Trump's transition moves. Those who bankroll his staff and travel before he takes office, lobbyists say, stand to build connections and curry favor with the once and future commander in chief.

Persons: Donald Trump, Bill Helmich, Trump, Evan Power, who's, MAGA, Justin Sayfie, we've, Andrew Jackson, Trump's, Brian Ballard, Ballard, Jeffrey Brooks, Adams, Reese, Susie Wiles, Pam Bondi, Alex Brandon, Matt Slocum, Colin Roskey, Dave Wenhold, Miller, There's, Scott Mason, Knight, John Deere, Mason, Dave Levinthal Organizations: White House, Business, Florida GOP, Mar, Trump, Republicans, America, Washington, Ballard Partners, Google, American Airlines, Honda, Reynolds American, Geo Group, American Health Care Association, White, Facebook, Washington D.C Locations: Washington, —, Florida, Palm Beach, Doral, Mar, Holland

☆ Kohl’s CEO will step down. He’ll be replaced by the head of Michaels
▼ + stars: | 2024-11-25 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Kohl’s announced its CEO Tom Kingsbury will step down on January 15, 2025, and will be replaced by the CEO of arts and crafts retailer Michaels. Ashley Buchanan, the next Kohl’s CEO, has been CEO of Michaels since 2020 and was a senior executive at Walmart and Walmart-owned Sam’s Club for 13 years. He took over after former Kohl’s chief executive Michelle Gass announced she was leaving the company to become the CEO at Levi’s (LEVI). Kingsbury will stay on as an advisor to Buchanan and on the Kohl’s Board of Directors until he retires in May 2025. Shares of Kohl’s dropped 5% in after-hours trading Monday.

Persons: New York CNN — Kohl’s, Tom Kingsbury, Michaels, Ashley Buchanan, Kingsbury, Michael Bender, Michelle Gass, LEVI, Buchanan, Kohl’s Organizations: New, New York CNN, Walmart, Sam’s Club, Kohl’s Locations: New York

☆ Post Market Wrap: November 25, 2024
▼ + stars: | 2024-11-25 | 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 EmailNews Update – Market CloseCNBC brings you fast, accurate, and actionable business news and market updates.

Organizations: CNBC

☆ 'Parks & Rec' cocreator Mike Schur made being the nicest guy in Hollywood a career path
▼ + stars: | 2024-11-25 | by ( Samantha Rollins | ) www.businessinsider.com time to read: +9 min

AdvertisementMike Schur is known for clever, kind-hearted TV shows like "Parks and Recreation" and "The Good Place." Schur explained to BI why all his shows have a central theme of hope and his philosophy as a boss. Related storiesSchur's Hollywood success started with a stroke of good luckSchur with cast on the set of "Parks and Recreation." AdvertisementSchur's management style boils down to being a good personSchur, center, with the cast of "The Good Place" during Universal Television's TCA Studio Day events. Schur on the set of "The Good Place."

Persons: Mike Schur, Schur, Charles, Ted Danson, he's, Colleen E, who's, I've, Obama, Ben Cohen, It's, Greg Daniels, Daniels, Evans Vestal Ward, Colleen Hayes Organizations: Netflix, Recreation, Hayes, Hollywood, NBCU, Getty, Universal, NBC Locations: Purgatory, Chilean, Pacific, Hollywood

☆ Republicans gear up for the coming battle over $5 trillion tax cut's costs
▼ + stars: | 2024-11-25 | by ( Emily Wilkins | ) www.cnbc.com time to read: +2 min

As Republicans on Capitol Hill lay the groundwork for extending the 2017 tax cuts, cracks are already emerging on one of the biggest questions: how to handle the cost. Extending the tax provisions is estimated to increase the deficit by $5 trillion, according to the nonpartisan Congressional Budget Office. Yet many lawmakers are quick to dismiss or explain away the number, arguing the tax cuts will ultimately help the economy and, subsequently, revenue for the government. Some top tax leaders, including Sen. Mike Crapo, R-Idaho, the incoming chair of the Senate Finance Committee, have downplayed the $5 trillion estimate, which assumes that the 2017 tax provisions set to expire at the end of 2025 have already done so. Yet a group of deficit hawks are worried about the ballooning deficit, and think any tax package needs to be fully offset.

Persons: Steve Scalise, doesn't, Sen, Mike Crapo, Crapo, we're Organizations: Capitol, CNBC, Senate Finance Committee, Fox Business Locations: Idaho

☆ Analyst Dan Clifton breaks down why the stock market rallied the way it did after the election
▼ + stars: | 2024-11-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

There's one key reason the U.S. stock market rallied after this month's presidential election, and it wasn't necessarily because of the outcome, according to Dan Clifton of Strategas. "What we saw was that the market was pricing in a 50-50 election. [Investors] didn't know who was going to win," Clifton, the firm's head of Washington policy research, told CNBC's Dominic Chu in this special Pro Talks discussion available to all readers. Instead, "we had it very clear … we knew [President-elect Donald Trump] was going to win," he said. (Pro subscribers can watch the full interview here .)

Persons: Dan Clifton, Clifton, CNBC's Dominic Chu, Donald Trump, Trump, gridlock — Organizations: CNBC, Republicans, Senate, CNBC Pro Locations: Strategas, Washington

☆ San Francisco Mayor-elect Daniel Lurie taps OpenAI's Sam Altman and other business leaders for help with transition
▼ + stars: | 2024-11-25 | by ( Kate Rogers | In Katerog | ) www.cnbc.com time to read: +2 min

San Francisco's Mayor-elect Daniel Lurie has begun tapping tech heavyweights and business leaders to help with his goal of overhauling the city's image. "He wants to put down roots here in San Francisco. The city can't have all its eggs in one basket and needs to expand into other business sectors as well, Lurie said. "We will go recruit companies from all sectors to come back to San Francisco," Lurie said. A fully-staffed police department and 911 dispatch office will be necessary to help bring businesses and workers back to the city, Lurie said.

Persons: Daniel Lurie, Sam Altman, Ned Segal, Lurie, Levi Strauss, I've Organizations: Francisco's Mayor, London, CNBC Locations: San Francisco, Francisco

☆ Joni Ernst, head of the Senate's new DOGE caucus, wants to make the federal establishment 'squeal' through trillions in cuts
▼ + stars: | 2024-11-25 | by ( Katie Balevic | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

AdvertisementGOP Sen. Joni Ernst of Iowa is set to lead the new DOGE caucus in the US Senate. It remains unclear how the new Department of Government Efficiency and Senate caucus will function. Republican Joni Ernst, a senator from Iowa, is set to lead the Department of Government Efficiency (DOGE) caucus in the US Senate. Ernst said on Fox News on Sunday that her goal is to make the federal establishment "squeal" through massive spending cuts. Federal budget experts have expressed doubt that DOGE, which will be co-led by Elon Musk and Ramaswamy, will have the authority to make such drastic cuts.

Persons: Sen, Joni Ernst of, Joni Ernst, Ernst, —, Vivek Ramaswamy, Elon Musk, Ramaswamy, Donald Trump's, Trump, John Cornyn of, Ted Budd of, Mike Lee of, Rick Scott of Florida, Roger Marshall of Kansas, Eric Schmitt of Missouri, James Lankford Organizations: Joni Ernst of Iowa, Fox News, Department of Government, Department of Government Efficiency, United States Senate, Los Angeles Times, Center, Budget, Social Security, Trump administration's Department, Government, Business Locations: Iowa, California, John Cornyn of Texas, Ted Budd of North Carolina, Mike Lee of Utah, James Lankford of Oklahoma

☆ Uber and Lyft drivers say they're earning less — so some are starting their own ride services
▼ + stars: | 2024-11-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementSome Uber and Lyft drivers are starting businesses driving people they meet through the apps. Uber and Lyft drivers can make as little as $3 per ride, pushing some to look for alternatives. Brian is one of four drivers who told BI about starting his own business offering rides outside Uber and Lyft. When BI asked whether drivers are allowed to pitch their own businesses while on a trip for Uber, an Uber spokesperson said the app's drivers are independent contractors. The spokesperson also referenced company statistics showing that Uber drivers make more than $30 per hour "while active on the app."

Persons: Brian, Lyft, Uber, Torsten Kunert, YouTuber, Kunert, Phil Organizations: Business, Uber, Rideshare Services Locations: California, Ontario, Canada, San Diego

On the first trading day since Donald Trump chose the billionaire financier Scott Bessent as his pick for Treasury secretary, investors seem to be signaling they like the choice. Bessent does,” Paul Donovan, chief economist of UBS Global Wealth Management, wrote in a research note on Monday. The Key Square Group founder overcame serious opposition from some in Trump’s inner circle. On Wall Street, a document was circulated suggesting that his Key Square hedge fund had underperformed the booming markets. Bessent’s ascent is notable in that he doesn’t appear to have been on Trump’s radar during his first administration.

Persons: Donald Trump, Scott Bessent, ” Paul Donovan, Elon Musk, Howard Lutnick, Cantor Fitzgerald, Trump, Lutnick, Bessent, Mark Rowan Organizations: “, UBS Global Wealth Management, Key Square, Commerce Department, Apollo Global Management

☆ Steel Maker ThyssenKrupp to Slash 11,000 Jobs in Germany
▼ + stars: | 2024-11-25 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +1 min

ThyssenKrupp, the largest steel maker in Germany, said Monday that it would eliminate up to 11,000 jobs by 2030, a decision that comes as the country struggled to overcome economic weakness that has hindered growth for nearly two years. The overhaul is aimed at returning ThyssenKrupp to profitability in the face of pressure from Asian competitors and high energy prices. ThyssenKrupp was among those hurt by the tariffs Mr. Trump imposed on steel and aluminum during his first term in office. Another 6,000 jobs will be cut through the sale of business activities or turning to external providers, the company said without elaborating. “Urgent measures are required to improve ThyssenKrupp Steel’s own productivity and operating efficiency and to achieve a competitive cost level,” the company said in a statement.

Persons: Donald J, Trump, ThyssenKrupp Locations: Germany, United States

☆ A December rate cut suddenly looks shaky as the market weighs Trump implications
▼ + stars: | 2024-11-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

With uncertainty lingering over how President-elect Donald Trump's policy intentions could affect vital parts of the economy, December no longer looks like a done deal for an interest rate cut. Primarily, it was Trump's victory and the extent to which his policies will stimulate the economy and perhaps goose inflation. In a recent CNBC interview, Bessent advocated for a gradual implementation of tariffs and insisted that Trump has no desire to stoke inflation. A market rally Monday lost a little bit of its steam as well as investors continued to weigh the prospects for Fed policy. "It is really, really hard to argue the other side of tariffs will slow growth and raise inflation.

Persons: Donald Trump's, Charles Schwab, Kathy Jones, Jones, Liz Ann Sonders, Schwab, you've, Sonders, Trump, Scott Bessent, Bessent Organizations: Traders, Federal Reserve, Fed, CNBC, Treasury, Nasdaq

☆ San Francisco Mayor-elect Daniel Lurie on transforming the city
▼ + stars: | 2024-11-25 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSan Francisco Mayor-elect Daniel Lurie on transforming the cityIn a CNBC exclusive, San Francisco's new Mayor-elect Daniel Lurie sits down with Kate Rogers to talk about bringing remote workers back, making the city safer and diversifying business beyond tech.

Persons: Daniel Lurie, Kate Rogers Organizations: San Francisco Mayor, CNBC

☆ The auto industry is pulling back on its ‘capital junkie’ tendencies after unprecedented spending on EVs, self-driving
▼ + stars: | 2024-11-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

It's a "capital junkie" that's been on a yearslong binge of unprecedented spending on all-electric and autonomous vehicles. The April 2015 report highlighted the industry's massive capital spending on overlapping or niche products that Marchionne was convinced could be solved through consolidation and shared capital spending. Most capital spending by automakers isn't wasted, but the industry isn't as efficient as other sectors, with minimal return on invested capital. Stock Chart Icon Stock chart icon Stocks of GM, Ford and Chrysler parent Stellantis in 2024. Courtesy: Business WireGM and Hyundai this summer entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies.

Persons: bender, Morgan Stanley, Adam Jonas, It's, Sergio Marchionne, Marchionne, Sergio Marchionne Brendan McDermid, Jonas, Joe Hinrichs, isn't, We've, Rebecca Evans, Roland Berger, Ford, Peter Rawlinson, Andrew Kelly, Oliver Blume, Blume, Paul Jacobson, Jacobson, Rivian, RJ Scaringe, Mary Barra, Euisun Chung, codevelop, Stellantis, —, Carlos Tavares, Oliver Bunic Organizations: General Motors, Ford, Nissan Motor, Volkswagen Group, Chrysler, Companies, Research, GM, Volkswagen, Toyota Motor, Fiat, Rivian, Lucid, Fiat Chrysler, Reuters, Rivian Automotive, Hyundai Motor, Toyota, CSX Corp, Rehab, Nissan, CNBC, Lucid Motors, Nasdaq, Churchill Capital Corp, Reuters Volkswagen, VW, Honda, BMW, SAIC, Barclays, Saudi, Public Investment Fund, Hyundai, Detroit, French, PSA Groupe, Stellantis NV, Bloomberg, Getty Locations: Casa Grande , Arizona, Detroit, Japan, Germany, That's, New York City , New York, Europe, China, U.S, Kragujevac, Serbia

☆ Inside 'Project Black Walnut' that sheds light on how Google thinks about Apple's ad business
▼ + stars: | 2024-11-25 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

AdvertisementApple, which avoided the ad business for years, might finally be getting serious about it. You can see how Google strategists are gaming out Apple's ad ambitions in a newly surfaced document. So, how big could Apple's ad business get? Apple's current ad business is mostly confined to selling ads on its App Store search results page. The rest of "Operation Black Walnut" is useful for anyone trying to imagine what an Apple ad business could look like if Apple decides to build one.

Persons: Apple, Amit P, Mehta, Apple hasn't, Jason Kint Organizations: Apple, Google, TAC

☆ YouTube's late CEO wrote a blog post about living with cancer weeks before her death. This was her 'most important lesson.'
▼ + stars: | 2024-11-25 | by ( Ana Altchek | Julia Pugachevsky | ) www.businessinsider.com time to read: +5 min

AdvertisementLate YouTube CEO Susan Wojcicki wrote a blog post weeks before her death about her cancer diagnosis. She was diagnosed in late 2022, with non-small cell lung cancer, the most common form of lung cancer. Women, whose highest cause of cancer death is lung cancer (as opposed to breast cancer) might also be unaware of the risk factors. Lung cancer research is underfundedSinghi said Wojcicki's blog post is an important rallying cry. It's "wild" to him that lung cancer is so under-researched, given that it's also the biggest cause of cancer death worldwide.

Persons: Susan Wojcicki, Wojcicki, Katie Williams, Dennis Troper, Larry Page, Sergey Brin, Eric Singhi, Singhi, Lung, it's Organizations: YouTube, Lung Cancer, Cancer, Environmental Defense Fund, American Lung Association

☆ Progressive news outlet NowThis made deep cuts to its staff for the second time this year
▼ + stars: | 2024-11-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

AdvertisementNowThis laid off about half its unionized newsroom, marking the second deep round of cuts this year. A softness in digital advertising has led to widespread media layoffs in recent years. NowThis recently laid off about half its unionized newsroom, the second round of deep cuts this year at the progressive digital news outlet. The layoffs impacted 13 of NowThis' 21 members of WGA East, which represents the newsroom, a union representative told Business Insider. It joined Vox Media through Vox's 2021 acquisition of Group Nine Media.

Persons: NowThis, Michael Vito Valentino, Vox, George Soros Organizations: WGA, Business, Fallen Media, MTV, Vox Media, Group Nine Media, Open Society, Democratic, Noticias Para Inmigrantes Locations: NowThis

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