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☆ ‘If you mark it down, they will come.’ What to expect from retailers this holiday season
▼ + stars: | 2024-11-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

While economists say this holiday shopping season could ultimately be the most normal one (sales-wise) since before the pandemic, it’s also decked out with plenty of uncertainty. While it would set a new record as well (keep in mind, those figures aren’t adjusted for inflation), this holiday season might be a little more muted than last. A shortened holiday seasonA short shopping season, however, may force the hands of retailers who are looking to hold back on deep promotions. This year, there are 26 days between Thanksgiving and Christmas, marking the shortest holiday shopping season possible. Courtesy Dan MarshallMarshall remains quite optimistic that Mischief will enjoy yet another strong Black Friday, Small Business Saturday and, ultimately, holiday season.

Persons: It’s, it’s, ”, Neil Saunders, “ it’s, Frederic J . Brown, TJ Maxx, Scrooge ‘, Saunders, ” Franklin Bracken, Locker, Bing Guan, ” Bracken, Jeffrey Davidson, “, ” Davidson, Shannon Grein, “ It’s, Seth Wenig, TransUnion, Charlie Wise, TransUnion’s, Wise, Brendan McDermid, Dan Marshall, Marshall, Dan Marshall Marshall, “ We’re, —, they’ll Organizations: CNN, B Department, Jersey Shore, National Retail Federation, GlobalData, Getty, Walmart, Target, Goldman, Global Retailing Conference, Bloomberg, Black, University of Michigan, Reuters, November’s University of Michigan, University of Locations: Jersey, Las Vegas , Nevada, AFP, New York, New Jersey, Wells Fargo, Ramsey , New Jersey, Wells, New York City, Oxford, St, Paul , Minnesota

☆ The Fed might not cut interest rates at all in 2025, Deutsche Bank economist says
▼ + stars: | 2024-11-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementThe Fed will pause interest rate cuts through all of 2025, Deutsche Bank's chief US economist says. A strong economy and the inflationary impact of Trump's policies will offset the need for rate cuts, Matthew Luzzetti said. The Federal Reserve's easing cycle is closer to stalling than starting, at least according to Deutsche Bank. Chief US economist Matthew Luzzetti expects the central bank to pause interest rate cuts after a final quarter-point reduction in December. First, the US economy doesn't appear headed for an imminent slowdown, which dials back pressure on the Fed to prop up growth by lowering interest rates.

Persons: Matthew Luzzetti, Goldman, Luzzetti, Donald Trump, Goldman Sachs Organizations: Deutsche, Deutsche Bank . Chief, Bloomberg, Fed, Luzzetti, Citi Locations: China, Mexico, Canada

☆ 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

☆ Ransomware attack leaves Starbucks using pens and paper to track employee hours
▼ + stars: | 2024-11-25 | by ( Katherine Tangalakis-Lippert | Alex Bitter | ) www.businessinsider.com time to read: +3 min

The software company behind Starbucks' payment and scheduling system has been experiencing a dayslong ransomware attack, causing outages that are disrupting employee pay. The attack on Blue Yonder, the company that makes the software, began on November 21 and has caused outages in Starbucks's system for tracking employee hours and payments. Starbucks told its employees that payment for the period ending on November 17 would be unaffected, but there may be discrepancies in the following pay period. The outage has forced employees to track their shifts using pens and paper, according to Bloomberg. The software company does not currently have a timeline for resolution of the issue, according to a webpage the company has published for customers impacted by the attack.

Organizations: Starbucks, Business Insider, Bloomberg, BI, Business, CNN, Sony Locations: America

☆ Warren Buffett Publishes Letter on Giving Away Wealth, Kids, and Luck
▼ + stars: | 2024-11-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett surprised shareholders on Monday with a near-1,500-word letter alongside his usual Thanksgiving gift to four of his family's foundations. The famed investor and Berkshire Hathaway CEO said he would shortly convert 1,600 of his Class A shares into 2.4 million Class B shares, worth about $1.2 billion. Buffett picked more trustees to share his wealthIn his unexpected missive to Berkshire shareholders, Buffett said the gifts would reduce his personal stockpile to 206,363 A shares, worth $149 billion. Buffett said his late wife's estate was worth about $3 billion, and 96% of that went into the pair's foundation. They are also somewhat younger than my children," Buffett said, adding those individuals are "on the waitlist" and he hoped his children disbursed all his assets.

Persons: Warren Buffett, Buffett, Elon Musk, Susan Thompson Buffett, Susan Thompson Buffett Foundation —, —, Howard G, He's, — Howard, Susie, Peter —, curt, — Buffett, Bertie, Morgan, Rockefeller, didn't, they're Organizations: Berkshire Hathaway, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Oracle, Elon, Bloomberg, Berkshire, Ford, Carnegie Locations: Berkshire, Omaha

☆ 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

☆ Huawei's self-sufficient era shows just how splintered the US and China are in tech
▼ + stars: | 2024-11-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

AdvertisementHuawei is set to launch its new line of Mate 70 phones on Tuesday. It marks a new era of self-sufficiency at a moment of tech division between the US and China. On Tuesday, the Shenzhen-based tech giant is set to unveil a slate of new smartphones — the Mate 70 series — that will be the most free they have ever been of Western software and hardware. The Huawei Mate 60. Depending on the success of the Mate 70 phones, that gap could widen in the months ahead.

Persons: Donald Trump, Joe Biden's, Trump, —, Wang Gang, Beijing's mandarins, Tim Cook, Steve Jobs Organizations: Huawei, Wall Street, Kirin, Bloomberg, Apple Locations: China, Shenzhen, Washington

☆ Warren Buffett just shared his most detailed plan yet for his fortune when he dies
▼ + stars: | 2024-11-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +10 min

Courtesy of Susie Buffett Laila Buffett poses with her three children -- from left, Roberta, Warren and Doris. Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Daniel Acker/Bloomberg/Getty Images Buffett attends the world premiere of "Becoming Warren Buffett," a documentary about his life, in 2017.

Persons: Washington CNN — Warren Buffett, outlive, ” Buffett, I’ve, ”, Buffett, — Susie, Howard, Peter Buffett, “, “ I’ve, Susan Thompson Buffett, Melinda Gates, Warren Buffett, Nati, Laila, Howard Buffett, Susie Buffett, Ernest, Susie Buffett Laila Buffett, Warren, Doris, Susie Buffett Warren Buffett, Susie Buffett Buffett, Susan, Peter, Lee Balterman, Salomon, Marcy Nighswander, AP Buffett, Buffett's, Mark Peterson, Curt Hudson, Arnold Schwarzenegger, Kathy Willens, Chris Machian, Dave Weaver, Michael Israel, John Sleezer, Bill Gates, Mario Tama, Barack Obama, Obama, doggedly, isn't, Jim Watson, Daniel Acker, Harry Benson, Getty Images Buffett, Astrid, David Cameron, Brendan Hoffman, Kristoffer Tripplaar, Alamy Buffett, Scott Eells, Chris, Franklin, Ndamukong Suh, Charlie Munger, Scott Olson, Huang Jihui, Jason Miller, Adam Jeffery, Hillary Clinton, Kempin, Forbes, Andy Kropa, Scott Morgan, Reuters Buffett, Andrew Harrer Organizations: Washington CNN, Berkshire Hathaway, Susan Thompson Buffett Foundation, Melinda Gates Foundation, Bloomberg, University of Nebraska -, Getty, Federal Reserve, AP, Omaha for Berkshire, California Gov, Wall Street, Schwarzenegger's, Kansas City Royals, Kansas City Star, Girl Scouts, Buffett, Microsoft, Getty Images, White, British, Woodrow Wilson High, Washington, Forbes, Harlem Globetrotters, Cleveland Cavaliers, Moon, NBA, CNBC, Reuters Locations: Omaha , Nebraska, Omaha, University of Nebraska - Omaha, Omaha for, Woodstock, Trenton , New Jersey, New York, AFP, Berkshire, Washington , DC, Illinois, Sun Valley , Idaho

☆ Tim Cook heads to China for the 3rd time this year as Apple braces for Trump trade policies
▼ + stars: | 2024-11-25 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementApple CEO Tim Cook is visiting China for the third time this year. Cook attended discussions focused on supply chain and trade issues, per Bloomberg. Apple CEO Tim Cook is visiting China for at least the third time this year as the tech giant prepares for president-elect Donald Trump's proposed import tariffs and the impact on global trade. AdvertisementAccording to Bloomberg, the discussion was focused on supply chain and trade issues. AdvertisementCook has made at least three public appearances in China this year to show his commitment to the country.

Persons: Tim Cook, Cook, Donald Trump's, Premier Li Qiang, Trump Organizations: Bloomberg, Apple, Premier, Beijing, Trump, Companies, China Central Television, Huawei Locations: China, Beijing

☆ The US is on the cusp of a nuclear renaissance. One problem: Americans are terrified of the waste
▼ + stars: | 2024-11-25 | by ( Ella Nilsen | Bill Weir | ) edition.cnn.com time to read: +11 min

This is one of several misconceptions about nuclear energy: America’s nuclear waste is not buried in a mountain or tucked at the bottom of a deep, rocky cavern. That is almost entirely because Americans are by and large opposed to living anywhere near nuclear waste, and suspicious of governments’ or utilities’ attempts to assuage nuclear fears. The byproduct of nuclear energy is still associated with atomic bombs or nuclear meltdowns. On the threshold of America’s nuclear energy renaissance, federal officials are pleading with communities to say yes to storing spent fuel. No state has yet raised its hand to store the country’s nuclear energy waste, despite the lucrative deals it could foment.

Persons: BUCHANAN, Trump, Homer Simpson, ”, Paul Murray, Murray, Brian Vangor, Julian Quinones, Bill Gates, James Kenney, Nathan J Fish, Matt McClain, Bob Bell, Canada –, Allison McFarlane, –, Harry Reid, Bob Riha Jr, ” Murray, “, Sergio Flores, Kenney, ” Thoreau, Ezekiel Gonzales, Frank Rusco, Alvin W, Mike Stewart, Greg Piefer, Democratic Sen, Ben Ray Lujan Organizations: New York CNN, US Energy, CNN, New Mexico –, Manhattan Project, New Mexico’s Environment Department, Cruces Sun, Trinity, White, Washington Post, US, US Nuclear Regulatory Commission, Las Vegas, Supreme, Regulatory, Bloomberg, Getty, Taxpayers, Office, Alvin, Shine Technologies, Democratic Locations: New York, York, China, Georgia, Pennsylvania, New Mexico, Lea County , New Mexico, Cruces, New mexico, Finland, Sweden, Canada, Nevada, Las, British, France, Japan, Texas, Midland , Texas, Mexico, Thoreau , New Mexico, “, ”, Waynesboro , Georgia, Ben Ray Lujan of New Mexico

☆ Marc Benioff thinks we've reached the 'upper limits' of LLMs — the future, he says, is AI agents
▼ + stars: | 2024-11-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

AdvertisementTech titan Marc Benioff says we're near the "upper limits" of LLM use in AI advancement. In a podcast, the Salesforce CEO said the future of AI lies in agents that work autonomously. Maybe we'll be there one day," Benioff said, referencing the 1984 film about a cyborg assassin. "I actually think we're hitting the upper limits of the LLMs right now," Benioff said. Salesforce offers prebuilt and customizable AI agents for clients seeking to automate customer service tasks.

Persons: Marc Benioff, Benioff, —, Jensen Huang, we'll, Arnold Schwarzenegger, Matthew Broderick, Salesforce Organizations: Bloomberg, Nvidia, Business Locations: LLMs

☆ Russian food prices are soaring — but no one dares blame Putin and the war
▼ + stars: | 2024-11-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +4 min

Sopa Images | Lightrocket | Getty ImagesCustomers shop for milk and dairy items inside an Auchan Retail International hypermarket in Moscow, Russia. Russia's leadership has looked to dodge criticism for the price rises, blaming "unfriendly" countries (that is, Ukraine's allies) for the conflict, sanctions and supply shortages. "Smart people ... understand what is happening with the economy, but most people accuse foreign 'unfriendly' countries [of being to blame for the price rises]. Last year, a shortage of eggs — and price rises of more than 40% — prompted the government to remove import duties on the product. Russian President Vladimir Putin attends a meeting with First Deputy Prime Minister Denis Manturov in Moscow, Russia November 20, 2024.

Persons: Anton Barbashin, Riddle, Ukraine's, Vladimir Putin, Putin, Stanislav, Denis Manturov, Vyacheslav Prokofyev Organizations: Getty, Bloomberg, CNBC, Ukraine, International Monetary Fund, TASS, Reuters Locations: St . Petersburg, Moscow, Russia, Russian, Europe, Ukraine, Belarus, Azerbaijan, Turkey

☆ Tim Cook heads to China for the 3rd time this year as Apple prepares for Trump trade policies
▼ + stars: | 2024-11-25 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

☆ Warren Buffett has advice for parents on inheritance planning
▼ + stars: | 2024-11-25 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

AdvertisementWarren Buffett shared advice on discussing inheritance with children in a nearly 1,500-word letter. Warren Buffett is sharing wisdom for parents: talk to your kids about their inheritance — before it's too late. Advertisement"When your children are mature, have them read your will before you sign it," Buffett wrote. in respect to testamentary decisions when you are no longer able to respond," Buffett wrote in the letter. Along with Melinda French Gates and Bill Gates, Buffett founded the Giving Pledge, a commitment for the world's billionaires to give the majority of their wealth towards philanthropy.

Persons: Warren Buffett, Buffett, they're, it's, Berkshire Hathaway, Susan Buffett, Howard, Peter, Susan, he's, jealousies, I've, Melinda French Gates, Bill Gates, Michael Bloomberg Organizations: Berkshire, Forbes

☆ 7-Eleven is at the center of a multibillion-dollar bidding war
▼ + stars: | 2024-11-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

AdvertisementSeven & i Holdings, owner of 7-Eleven stores, is at the center of a three-way bidding war. Japan-based Seven & i Holdings, owner of the iconic global chain of 7-Eleven convenience stores, is at the center of an intensifying bidding war, multiple outlets reported. The 7-Eleven chain was founded in 1927 in Dallas, per The Journal. It was originally called the Southland Ice Company but was rebranded in 1946 to be called 7-Eleven based on its hours of operation. Representatives for Alimentation Couche-Tard and 7-Eleven did not immediately respond to requests for comment from Business Insider.

Persons: Alimentation, Tard, Ryuichi Isaka, Junro Ito, Ito, Masatoshi Ito, Junro, —, Yokado Organizations: Holdings, Street Journal, i's, Seven, Bloomberg, Southland Ice Company, Business Locations: Canadian, Japan, Quebec, Dallas

☆ Christian Louboutin wants to keep his favorite holiday spot special — but it's on Harry and Meghan's radar too
▼ + stars: | 2024-11-24 | by ( Maria Noyen | ) www.businessinsider.com time to read: +4 min

Christian Louboutin opened a small hotel in Melides, Portugal, and plans to open another. Advertisement"People are touched by authenticity and we need to keep it that way," Louboutin told Bloomberg. AdvertisementJust a 15-minute drive from Melides lies Costa Terra, a 722-acre luxury resort community and gold club built by US real estate developer Discovery Land Company. Related storiesRepresentatives for Costa Terra did not immediately respond to requests for comment. "Tourists come here for the beauty of this place," Louboutin told Bloomberg.

Persons: lister, Prince Harry, Meghan Markle, Louboutin, Christian Louboutin, Victor Boyko, It's, Mike Meldman, George Clooney, Harry, Eric Charbonneau, Paris Hilton, Sharon Stone, Costa Terra, Amancio Ortega's, Vitor Paiva, Engel, Völkers, Paiva Organizations: Bloomberg, Dior, Discovery Land Company, Casa Amigos, The Telegraph, Archewell, Getty, Costa Terra, Vanguard Properties Locations: Portugal, overtourism, Melides, Tropez, Alentejo, St, Costa, Montecito , California, Colombia, Comporta, Portuguese

☆ Welcome to the mullet market: Steady benchmarks in the front, crypto party in the back
▼ + stars: | 2024-11-23 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

This market is starting to summon the lighthearted take on a mullet haircut: business in the front, party in the back. BTC.CM= YTD mountain Bitcoin, YTD Every bullish argument for bitcoin comes down to "More people will soon have more ways to buy more of it." I've tracked the interplay between bitcoin and Nvidia shares for a while. The market's immediate response was simply to allow Nvidia to hold onto the $2.3 trillion in market value it's added this year, but not to pile on more. Meaning the current pace of new money entering these funds is not as heavy relative to total market value as it was nearly four years ago.

Persons: Trump, bitcoin, I've, John Roque, Warren Pies Organizations: Nasdaq, Nvidia, Nvidia ramped, Vanda Research, Trump, 22V Research, Bloomberg, Federal Reserve, 3Fourteen Research Locations: lockstep, bitcoin

☆ The economist who predicted the election outcomes in detail tells BI his forecasts for 2025 GDP, inflation, and the threshold that would explode the deficit
▼ + stars: | 2024-11-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

AdvertisementChristophe Barraud predicted a Republican sweep and spike in the 10-year yield. Barraud, a top US economy forecaster, expects GDP growth to exceed consensus forecasts. He also expects higher inflation and shares concerns over the deficit crossing 7.5% of GDP. AdvertisementHe previously said that US GDP growth in 2025 would be stronger than expected at 2.1%, above Bloomberg's consensus forecast of 1.9%. A stronger labor market will cause this, especially wage growth and new job creation, combined with labor shortages from restrictive immigration policy.

Persons: Christophe Barraud, Kamala Harris, Donald Trump, Barraud, I'm, Trump Organizations: Republican, Market Securities Monaco, Bloomberg, Trump, Congressional, Office, Tax Foundation

☆ At 17, he bought a sandwich shop for $125,000—he renamed it Jersey Mike's and just sold it for $8 billion
▼ + stars: | 2024-11-23 | by ( Natalie Wu | ) www.cnbc.com time to read: +1 min

The shop, which he ended up renaming Jersey Mike's Subs, has since made him a billionaire. The deal reportedly valued Jersey Mike's Subs at around $8 billion including debt, bumping Cancro's net worth to estimated $7.5 billion, according to Bloomberg. The night his mom suggested he buy the business he'd been working at since he was 14, he laughed, Cancro told Forbes in August. He called the restaurant owner the next day and the owner told Cancro he had a week to find $125,000, Cancro told "The Jedburgh Podcast" in 2021. Cancro became the sole owner of Mike's Subs before even graduating from high school.

Persons: Peter Cancro, he'd, Cancro, Forbes Organizations: Subs, Jersey Mike's Subs, Blackstone, Bloomberg, University of North, Forbes Locations: Pleasant , New Jersey, Jersey, University of North Carolina

President-elect Donald Trump on Friday asked Scott Bessent, a top fundraiser to his campaign, to serve as secretary of the Treasury Department, two sources familiar with the matter confirmed to NBC News. And with Trump proposing aggressive tariffs on imports from countries spanning the globe, the new Treasury Department chief will have to manage relationships with global finance ministers who may choose to retaliate with tariffs of their own. With inflation moderating over the past year, the Powell-led Fed has cut interest rates as part of a bid to stop high borrowing costs from unduly raising unemployment. In Trump’s first term, he tapped banker Steven Mnuchin to lead the Treasury Department. But his tenure at the Treasury Department was more stable than those of other high-level Cabinet posts in Trump’s first term.

Persons: Donald Trump, Scott Bessent, Bessent, Trump, Jerome Powell, “, ” Powell, Powell, Steven Mnuchin, Mnuchin, Trump’s Organizations: Treasury Department, NBC News, Senate, White, Republican, Congress, Federal Reserve, Bloomberg News, Fed, CNBC Locations: Hollywood

☆ In forgotten parts of Singapore's iconic Orchard Road shopping street, a new era is taking shape
▼ + stars: | 2024-11-22 | by ( Kevin Lim | ) www.cnbc.com time to read: +6 min

The Far East Shopping Center on Orchard Road in Singapore, on Thursday, April 11, 2024. Bloomberg | Bloomberg | Getty ImagesThe Far East Shopping Center along Singapore's Orchard Road has seen better days. Orchard Road, Singapore's main shopping street, is 2.2 km (1.3 miles) long but much of the activity takes place in the middle of the stretch as well as at selected malls linked via underground walkways to subway stations. Far East Shopping Center isn't connected to Orchard MRT unlike several of its neighbors. Two of the properties, the voco Orchard hotel and Forum The Shopping Mall, share some 180 meters of frontage along Orchard Road.

Persons: Ong Beng Seng, hasn't, CDL, Singapore's URA, URA, Richard Goh, Rasa Singapura, Sukanto Tanoto, Du Shuanghua, Jeremy Lake Organizations: Shopping, Bloomberg, Getty, Shopping Center, Singapore Botanic Gardens, Urban Redevelopment, Properties, Singapore, Developments, CDL Hospitality, Arts, CNBC, Singapore Botanic, Pacific Eagle, Food, Savills Singapore, Concorde Locations: Orchard, Singapore, Delfi Orchard, Istana Park, Canning, HPL

☆ Stocks making the biggest moves midday: Reddit, Super Micro Computer, Intuit and more
▼ + stars: | 2024-11-22 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Reddit — The stock fell 6% after Bloomberg, citing a person familiar with the matter, reported that Advance Magazine Publishers is looking to establish a credit facility using as much as $1.2 billion of its stake in Reddit. Gap — The stock jumped more than 10% on the heels of the clothing retailer increasing its full-year outlook — its third time doing so this year. Super Micro Computer — Shares moved more than 11% higher, extending its more than 15% gain in the previous session. Intuit — Shares of the financial software company fell 4% after the release of its fiscal first-quarter report. StoneCo — Shares jumped about 10% after the Brazilian payments company announced a share repurchase program of up to 2 billion reais .

Persons: LSEG, Ross, Needham, bitcoin, —, Alex Harring, Jesse Pound, Michelle Fox Organizations: Bloomberg, Advance Magazine Publishers, BDO, Nasdaq, Intuit —, Intuit, LSEG, Carpenter Technology, JPMorgan, . Texas Pacific, Marathon Oil, ConocoPhillips Locations: Reddit

☆ Jeff Bezos says Elon Musk's claims are '100% not true' after the Tesla CEO reignites their feud
▼ + stars: | 2024-11-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk reignited his long-running feud with Jeff Bezos in an X post on Thursday. Musk said Bezos told people they should sell Tesla and SpaceX stock because Donald Trump would lose. Bezos said Musk's claim was "100% not true," to which Musk replied, "I stand corrected." XBusiness Insider was unable to confirm the veracity of Musk's post. AdvertisementNovember 22, 2024: This story has been updated to include Bezos' response to Musk's Thursday X post, and Musk's response to Bezos.

Persons: Elon Musk, Jeff Bezos, Musk, Bezos, Donald Trump, Trump, wasn't, he'd, Musk's, Tesla, SpaceX isn't, Thomas Roulet, Elon, Bill Gates, Gates Organizations: SpaceX, X, Mar, Department of Government, Amazon, Trump, Tech, Bloomberg, University of Cambridge, Twitter, Microsoft Locations: Trump's Florida, China

☆ China’s richest man blasts tech giants and government inaction in rare rebuke
▼ + stars: | 2024-11-22 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

It is very unusual for Chinese businesspeople to take public aim at the government and those who have done so have often faced repercussions. In particular, Pinduoduo’s pricing system has done great harm to China’s brands and its industries,” he was quoted as saying by state-owned media outlet The Paper. In further remarks from the same press conference that were not widely reported by state media, Zhong singled out the Chinese government for not doing more to stop the trend. CNN has reached out to Nongfu Springs and PDD (PDD) for comment. A worker prepares to transfer packages after sorting at a warehouse for an e-commerce company in Beijing on November 11, 2024.

Persons: Hong Kong CNN —, Zhong Shanshan, Zhong, Pinduoduo, Alibaba, Jack Ma, Ma, Colin Huang, Wang Zhao, Zhong’s, Huang Organizations: Hong Kong CNN, PDD Holdings, Sina Technology, CNN, Ant Group, Alibaba, Getty, Bloomberg Locations: China, Hong Kong, Beijing, AFP

☆ Red Lobster's millennial CEO says the chain saw a boost in sales after launching its revamped menu — with no endless shrimp
▼ + stars: | 2024-11-22 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

AdvertisementRed Lobster recently introduced a revamped menu with no "endless shrimp." Red Lobster's new CEO said the chain's revamped menu — which no longer includes its infamous "endless shrimp" promotion — has already started to help turn things around at the struggling company. In 2023, the long-running chain made the once-limited-time offer of $20 endless shrimp a permanent menu fixture in an effort to get more customers in the door. Advertisement"Countless people grew up going to Red Lobster at important times in their lives," Adamolekun told the outlet. Advertisement"There's been so much turmoil around the business that some people just opted out," Adamolekun told Bloomberg.

Persons: Red, —, Damola Adamolekun, Adamolekun, hadn't Organizations: Bloomberg, Street Journal

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