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☆ Chinese government has to step in and stop 'theft of personal income,' says strategist
▼ + stars: | 2024-10-05 | 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 EmailChinese government has to step in and stop 'theft of personal income,' says strategistShaun Rein with China Market Research Group says the Chinese e-commerce stocks are 'irrationally exuberant' and the government has to make effective measures on the labor market in addition to the 'mini stimulus' to boost the overall economy.

Persons: Shaun Rein Organizations: China Market Research Group

☆ 'The China bump is not dead at all', strategist expects a 10% upside in coming weeks
▼ + stars: | 2024-10-05 | 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 Email'The China bump is not dead at all', strategist expects a 10% upside in coming weeksShaun Rein with China Market Research Group explains why he thinks the rallies of the Chinese markets will continue after the hiatus of the Chinese Golden Week holidays despite headwinds facing the Chinese economy.

Persons: Shaun Rein Organizations: China Market Research Locations: China

The company launched its first Amazon Go convenience store featuring a new kind of technology, called "Just Walk Out." In 2020, the company began licensing Just Walk Out technology to third parties, signing on retailers in stadiums, airports and hospitals. The company discontinued some of its retail chains, closed eight Amazon Go stores, and hit pause on new Fresh store openings. While it's no longer featuring Just Walk Out as prominently in its own stores, Amazon says it has inked deals with a growing list of customers. Amazon in July updated the AI system behind its Just Walk Out technology to handle all the inputs in a store simultaneously.

Persons: Jeff Bezos, Charlie Rose, Bezos, Andy Jassy's, It's, Jordan Berke, Berke, Walmart's, Jon Jenkins, Jenkins, Amazon's, CNBC Jenkins Organizations: Amazon, Foods, Anadolu, Getty, Bloomberg, Walmart, Kroger, Target, CNBC Locations: San Mateo , California, United States, China, Seattle , Washington, Amazon's Seattle

SHANGHAI, CHINA - MARCH 7, 2023 - The Oriental Pearl Tower, Shanghai Tower, Jinmao Tower and World Financial Center are seen on Lujiazui Street, Shanghai, China, March 7, 2023. China stocks will keep rising after markets in the mainland reopen following the Golden Week break, analysts predicted. Beijing's announcements of economic support last week have fueled China's CSI 300 blue-chip index to rally over 25% in a nine-day winning streak. Then, Hong Kong stocks dropped on Thursday, ending a 6-day winning streak and sparking fears that China's stimulus rally could have started to fizzle out. Beijing's recent stimulus blitz coupled with higher participation from retail investors will likely fuel a longer rally, he said.

Persons: Eugene Hsiao, Shehzad Qazi, Qazi, Shaun Rein, it's, Rein, Ting Lu Organizations: Financial, CSI, of China Equity, Macquarie Capital, China Market Research Locations: SHANGHAI, CHINA, Shanghai, China, Hong Kong

☆ High Credit Card Interest Rates Are Loading Americans With Debt
▼ + stars: | 2024-10-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +11 min

The average credit-card interest rate is now just over 21%, up from about 15% a decade ago. Additionally, as credit-card companies continue to charge high interest rates, more cardholders in debt become delinquent — and that could push the US economy closer to recession. Advertisement'The highest credit-card rates we've ever seen'Until 1978, most states had laws capping interest rates for credit cards and consumer products. Lowering the current high interest rates, and the profits that come with them, has become a priority across the aisle. Ted Rossman, a senior industry analyst at Bankrate, described the feedback loop of high prices and high interest rates as "a tough cycle to break."

Persons: Lana Linge, it's, Linge, isn't, Adam Rust, Bruce McClary, TransUnion, Austan Goolsbee, Rust, You've, you've, Antoinette Schoar, Schoar, David Silberman, GOP Sen, Josh Hawley, Hawley, Democratic Sen, Elizabeth Warren, Michele Raneri, Ranieri, Ted Rossman Organizations: Consumer Federation of America, Federal Reserve, National Foundation, Credit, Federal Reserve Bank of New, New York Fed, Federal Reserve Bank of Chicago, Louis Federal Reserve, Federal, Financial, MIT, Center for Responsible Lending, Lawmakers, GOP, Democratic, Reserve, TransUnion Locations: overspending, Federal Reserve Bank of New York, South Dakota, Delaware

☆ With Hezbollah weakened, Israel’s challenge becomes knowing when to pull back
▼ + stars: | 2024-10-01 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +6 min

It will take a remarkable amount of efficiency and discipline from the Israeli military and Israeli Prime Minister Benjamin Netanyahu to know when it is time to stop. The Israeli military are now walking into the ground trap that their adversary has been setting for them for well over a decade. And so, knowing when to stop is going to be key to this not becoming a quagmire for Israel. Does Israel’s Lebanon operation increase the chances of wider war with Iran? For Israel’s military endeavor to last weeks and not months, they will need extraordinary and rare success, discipline, and political wisdom.

Persons: Biden, Benjamin Netanyahu, Hassan Nasrallah –, we’re, Netanyahu, Jim Urquhart, Nasrallah, Kamala Harris, Donald Trump, Netanyahu’s, Israel Organizations: CNN, Israeli, Israel Defense Forces, –, Time, Israel Locations: Israel, Lebanon, Iran, Europe, Metula, Lebanese, Tyre, Gaza

☆ Israeli troops have begun a ground war in southern Lebanon. Here’s what we know
▼ + stars: | 2024-10-01 | by ( Helen Regan | ) edition.cnn.com time to read: +8 min

More recently, Israel’s military declared a “limited” operation in Rafah, southern Gaza that has left the city in ruins. Shortly before the incursion, Israel’s National Security Cabinet approved the “next phase” of its war with Hezbollah, according to Israeli media. The Lebanese army had also evacuated observation posts at the southern border and moved to barracks in the border villages, according to a Lebanese security source. Smoke billows after an Israeli strike on a village near the southern Lebanese city of Tyre on September 29, 2024. What’s unfolded is some of the fiercest fighting between the two longtime foes since the 2006 Lebanon war, which killed 1,100 in the country.

Persons: CNN —, Israel, Hassan Nasrallah, Yoav Gallant, Nasrallah, Hassan Ammar, Benjamin Netanyahu, Kawnat Haju, Netanyahu, Joe Biden, Netanyahu –, —, Biden Organizations: CNN, Hezbollah, Security Cabinet, Israeli, Palestinian Liberation Organization, PLO, National Security Cabinet, Lebanese, Hamas, Getty, Iran, White Locations: CNN — Israel, Lebanon, Iran, Lebanese, Israel, Beirut's, Gaza, Rafah, Beirut, Beirut’s, Palestinian, Tyre, AFP, Yemen, Syria, Iraq, East, United States

☆ China's economic woes dampen 'Golden Week' holiday travel
▼ + stars: | 2024-10-01 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Passengers arrive at the Beijing railway station on the first day of peak travel ahead of the National Day holidays in China's capital city on Sept. 29, 2023. China is expecting to see more travelers during Golden Week, but the country's persistent economic woes will likely continue to weigh on overall spending this holiday season. Prices for both domestic and outbound flights during the National Day period declined compared to last year, according to report by Trip.com released last month. During the Golden Week holiday last year, China saw domestic tourism revenue reach 753 billion yuan ($107.37 billion). By comparison, a single-day record of 20.7 million trips were made on May 1, the start of China's Labor Day holiday.

Persons: Shaun Rein, Rein, Trip.com, Alicia Garcia Herrero Organizations: Golden, Authorities, Ministry of Transport, China Market Research Group, Ministry of Culture, National Railway Administration, China's Labor, Tourism Locations: Beijing, China's, China, Tourism

The most sweeping effort yet to regulate artificial intelligence, a California bill that could have informed laws around the world, is going back to the drawing board. 1047 provided necessary guardrails, and they urged California policymakers to reject intense pressure from software giants against the bill. Smaller tech companies also pushed back, worried that A.I. While governments around the world (and A.I. Act, which focuses on the riskiest use of the technology but also includes transparency requirements for the largest models.

Persons: Gavin Newsom, ” Newsom, Geoffrey Hinton, Elon Musk, Nancy Pelosi, Newsom’s, Sam Altman, OpenAI Organizations: Gov, Hollywood, Street, Google Locations: California, Silicon, S.B

☆ Analysis: China is celebrating National Day but with the economic downturn not everyone is in the party spirit
▼ + stars: | 2024-09-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Tourists visit an ancient city gate in Beijing, China ahead of National Day. The stock market may be in the midst of one of its most remarkable turnarounds, but economists say reversing China’s economic downturn will require much more work. “Stimulating the stock market doesn’t really do much for the real economy in China. Very few people invest in the stock market compared to other major markets,” said Logan Wright, director of China markets research at Rhodium Group. Property woesThe outlook for the real estate industry, which makes up about a quarter of the Chinese economy and 70% of household wealth, remains dim.

Persons: Japan’s “, Xi Jinping, Xi, Xu Tianchen, Hong, David Tepper, ”, Logan Wright, Wright, There’s, ” Wright, “, hasn’t, Alfred Wu, Lee Organizations: Hong Kong CNN, Economist Intelligence Unit, Reuters, Shenzhen bourses, Securities Times, Tourists, Management, CNBC, Barclays, Communist Party, Lee Kuan Yew, of Public, National University of Singapore Locations: Hong Kong, China, People’s Republic, United States, Beijing, Shanghai, Shenzhen, Guangzhou, China’s, Xi’s

☆ Why America is looking increasingly powerless as Israel’s war expands
▼ + stars: | 2024-09-30 | by ( Stephen Collinson | ) edition.cnn.com time to read: +13 min

And the US has incessantly pushed for a Gaza ceasefire that neither Netanyahu nor Hamas seems to want. For instance, the US and its allies helped repel a massive Iranian missile and drone attack against Israel in April. It has also killed other senior members of the two groups in strikes in Syria, Lebanon, Iran and in Gaza. And pro-Trump Republicans are goading him to go further — at least partly to weaken Biden and his chosen successor, Harris. This is just one of many reasons why Netanyahu is incentivized to expand his war no matter how powerless it makes America look.

Persons: CNN —, Benjamin Netanyahu’s, Joe Biden, “, Netanyahu, Kamala Harris, Hassan Nasrallah, Biden, Antony Blinken, Nasrallah, dissed, CNN’s MJ Lee, Kylie Atwood, Jennifer Hansler, Cedric Leighton, Leighton, Israel, it’s, Ismail Haniyeh, Yitzhak Rabin, Shimon Peres, shuttler James Baker, —, Donald Trump, Harris, –, Trump Organizations: CNN, Monday, Israel Defense Forces, Democratic, Israel, Iranian Islamic Revolutionary Guard Corps, US, Washington, ”, Hamas, Republicans, Trump Republicans, Democratic Party, Arab American Locations: Lebanon, ”, Washington, East Israel, Israel, Gaza, Iranian, Damascus, United States, Hezbollah, Iraq, Afghanistan, Syria, Jordan, Iran, Africa, Tehran . Israel, Israeli, China, Michigan

Angela Weiss | AFP | Getty ImagesAs she unveiled her most detailed economic plan yet this week, Democratic presidential nominee Kamala Harris pledged to fight price gouging in order to rein in voters' grocery costs. Although Harris released more detail Wednesday as part of her 82-page economic plan, it's still unclear what price hikes her administration would see as illegal "price gouging." Generally, Republicans support fewer economic regulations, although Trump has suggested limiting food imports as a way to lower grocery prices. What is price gouging? Thirty-seven U.S. states already have laws that forbid price gouging in emergencies.

Persons: Kamala Harris, Doug Emhoff, Angela Weiss, Donald Trump, Harris, it's, Walz, Trump, YouGov, Rakeen Mabud, Mabud, Mario Tama, markups, —, Jerome Powell —, Sarah Gallo, Brian Cornell, Jharonne Martis, Brandon Bell, Kroger, Arun Sundaram, Sundaram, JBS, Joe Raedle Organizations: Democratic, AFP, Getty, Trump, Bureau of Labor Statistics, Voters, Federal Reserve Bank of Kansas, Consumer Brands Association, Federal Trade, Department of, Kroger, Procter, Gamble, Albertsons, Federal Trade Commission, CFRA Research, Pilgrim's Pride Corporation Locations: Coraopolis , Pennsylvania, Los Angeles , California, Federal Reserve Bank of Kansas City, Houston , Texas, Miami , Florida

☆ Self-made millionaire's advice to help a couple rein in their spending after racking up $65,000 in credit card debt: 'It's not about whack-a-mole'
▼ + stars: | 2024-09-28 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Kathleen said that her principles have been, "It was all going to work out eventually," and "Let's not worry about it." "It's not simply one decision or two, because if we simply try to do it by decisions, it's like playing whack-a-mole," Sethi said. He walked the couple through a few exercises to see how they feel and think about money. They want to feel proud, empowered and like they actually are as well off as their salary and lifestyle suggests. They say they're committed to making the necessary changes to get there, but they also accepted that it's not going to be easy.

Persons: Sethi, Kathleen, it's, It's, They're, they're Locations: Montana

☆ First time in months Xi involved in trying to stimulate economy: strategist
▼ + stars: | 2024-09-26 | 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 EmailFirst time in months China's Xi involved in trying to reinvigorate the economy, strategist saysShaun Rein, the founder and managing director of China Market Research Group, discusses the Chinese government's economic stimulus plans.

Persons: China's Xi, Shaun Rein Organizations: China Market Research

☆ America's rivals are piling on the pressure all at once
▼ + stars: | 2024-09-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. These incidents over the past few weeks highlight how US rivals and foes are increasingly challenging the American-led global order as threats multiply worldwide. Russia, Iran, China, and North Korea have deepened their security ties as they simultaneously present Washington and its allies with new dilemmas that strain the US military. North Korea has remained firmly committed to maintaining its nuclear status and strengthening its arsenal despite intense international pressure. Much to the frustration of the US and its Western allies, North Korea has provided artillery and missiles.

Persons: —, Michael O'Hanlon, Vladimir Putin, Xi Jinping, SERGEI GUNEYEV, Putin, John Kirby, Pierre Crom, Israel, Kim Jong Un, David Lammy, AP Robert Gates, George W, Bush, Barack Obama Organizations: Service, Business, Brookings Institution, Getty, Russian Defense Ministry Press Service, Ukraine, White, National Security Council, North, renegades, North Korea —, Washington, Korean Central News Agency, Korea News Service, AP, Washington Post Locations: Russia, Iran, China, North Korea, Washington, Hawaii, Japan, Philippines, South China, Pacific, United States, America, Moscow, Russian, Kyiv, Tehran, Gulf of Aden, Gaza, Israel, Red, Korea, Ukraine, NATO, Europe

☆ China offers one-time cash allowance for those in extreme poverty
▼ + stars: | 2024-09-26 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

China's government announced it will offer a one-time cash allowance to those in extreme poverty, a day after its central bank rolled out a slate of stimulus measures aimed at shoring up the economy. The handout will be provided to "extremely poor people, orphans and other needy people on the occasion of the 75th anniversary of the founding of New China," China's Ministry of Civil Affairs reported on Wednesday. The report did not specify the size of the allowance or any further details. As of last November, 40.4 million people in China were covered by subsistence allowances. The average allowance was about 779 yuan ($110.80) per person a month for those staying in urban areas, while rural subsistence was 615 yuan per person.

Persons: Xi, Shaun Rein, Mao Zedong Organizations: New, Ministry of Civil Affairs, CPC, China Market Research, CNBC Locations: New China, China

☆ Meta CTO explains why it was important for Mark Zuckerberg to show off $10,000 smart glasses you can't buy
▼ + stars: | 2024-09-26 | by ( Jaures Yip | ) www.businessinsider.com time to read: +6 min

Meta unveiled its Orion AR glasses at the Meta Connect 2024 developer conference. Meta's CTO explained why it was important to show what the investment led to — even if you can't buy the glasses yet. But on Wednesday's Meta Connect 2024 developer conference, the CEO was finally able to unveil what many of those billions had been spent developing: the Orion AR glasses. AdvertisementMeta's Orion AR glasses, which feature displays built into the lenses and an array of sensors. AdvertisementMark Zuckerberg shows off the Orion AR glasses prototype at Meta Connect 2024.

Persons: Meta, —, Mark Zuckerberg's, He's, Zuckerberg, Andrew Bosworth, Stratechery's Ben Thompson, Bosworth, Mark Zuckerberg, Tim Cook, it's, Thompson Organizations: Orion, Meta, Service, Reality Labs, Facebook, Apple, Google, Apple Vision Pro, Meta's

☆ China’s youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | Lee Ying Shan Is A News Associate With Cnbc International Based In Singapore. | ) www.nbcnews.com time to read: +1 min

China’s youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, driven by an economic slowdown and restrictive hiring policies, according to analysts. China’s urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% rise in July. China’s youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. This is expensive so no one wants to fire anyone now or hire anyone new,” he noted. “That’s why the [overall] unemployment rate isn’t that bad but the unemployment rate for youths is so high,” Rein added.

Persons: That’s, “ It’s, ”, Dan Wang, Shaun Rein, “, ” Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, “ Locations: China

☆ China's youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, data from the National Bureau of Statistics showed, amid an economic slowdown. China's urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% climb in July. China paused reporting the youth unemployment rate for much of the latter half of last year while it reassessed its calculation methods. China's youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. "That's why the [overall] unemployment rate isn't that bad but the unemployment rate for youths is so high," Rein added.

Persons: That's, Dan Wang, Shaun Rein, Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, People's Bank of Locations: China, People's Bank of China

☆ Baby boomers have a ton of their wealth tied up in stocks and housing. Here's why that's a risk to the economy.
▼ + stars: | 2024-09-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Khurana thinks what has made boomers the wealthiest generation — stocks and housing — also makes them a risk to economic stability. AdvertisementSuch a scenario is an '"underappreciated risk," he said, given how much boomers' spending habits have fueled economic growth in recent years. The demographic spends around $548 billion a year, more than any other generation, according to a report from marketing research firm Epsilon. AdvertisementBroken down by each generation's holdings of property and stocks, boomers accounted for 42% of all real estate ownership and 54% of all corporate equity and mutual fund ownership. That's not to say boomers will cause the next recession, but the risk during a recession is dialed up under the current paradigm, Khurana said.

Persons: —, America's, Brij, Khurana, boomers, they've, John Hussman, That's Organizations: Service, Wellington Management, Business, McKinsey & Company, New York Fed, Epsilon, New, Boomers, Federal Reserve, Governors Boomers, Governors Locations: New, New York, Florida and Texas

But that has not stopped Trump from recycling some of the same dark portents about a Kamala Harris presidency. Even God was not safe from a Biden presidency, Trump warned. You’re going to have to learn to speak Chinese,” Trump told conservative radio host Hugh Hewitt in August 2020. "She wants no Merry Christmas," Trump said. The suburbs are also doomed if Harris wins, Trump told rallygoers last week in Tucson, Arizona, warning that Harris' team "wants to abolish the suburbs."

Persons: “, ” Donald Trump, Trump’s, Joe Biden’s, Trump, Kamala Harris, ” Trump, Biden, you’ve, Stocks, Harris, TRUMP, Joe Biden, ”, Biden’s, God ”, God, Trump's auguring, Hugh Hewitt, “ You’ll, “ Kamala Harris, rallygoers Organizations: ”, New Hampshire voters, Michigan, National Retail Federation, Republican National Convention, Biden, Fox News, North Carolina rallygoers, Trump, Biden's Locations: America, “, Goodyear , Arizona, Nevada, Florida, U.S, Mexico, ” In Ohio, China, United States, Georgia, Wisconsin, Tucson , Arizona, ” America, San Francisco, California, Las Vegas, North Carolina

☆ The Fed's lone dissenter on the big rate cut says she's concerned about 'premature declaration of victory' over inflation
▼ + stars: | 2024-09-20 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

In a historic dissent, Michelle Bowman, a Fed governor, advocated instead for a smaller 25 basis point cut. AdvertisementLeading up to the rate cut, Fed Chair Jerome Powell repeatedly emphasized the Fed's goals of maximum employment and a 2% inflation rate. Bowman said she believes inflation could come closer to the Fed's target with more gradual easing, which would avoid a spike in demand from lower borrowing costs. AdvertisementBowman has long advocated for tighter monetary policy to rein in inflation, skewing hawkish among the Fed's members. "We should keep in mind the historical lessons and risks associated with prematurely declaring victory in the fight against inflation," Bowman said in a speech last year.

Persons: —, Michelle Bowman, Bowman, Jerome Powell, Powell Organizations: Service, Fed, Business, New York Fed

☆ Alberto Fujimori, ex-Peruvian president convicted of human rights abuses, dies at 86
▼ + stars: | 2024-09-12 | by ( The Associated Press | ) www.nbcnews.com time to read: +8 min

His daughter said in July that he was planning to run for Peru’s presidency for the fourth time in 2026. The former university president and mathematics professor was the consummate political outsider when he emerged from obscurity to win Peru’s 1990 election over writer Mario Vargas Llosa. He had hoped to run for Peru’s presidency in 2006, but instead wound up in court facing charges of abuse of power. He became the first former president in the world to be tried and convicted in his own country for human rights violations. “After a long battle with cancer, our father, Alberto Fujimori, has just departed to meet the Lord,” she said on X Wednesday.

Persons: Peru — Alberto Fujimori, Keiko Fujimori, Fujimori, Mario Vargas Llosa, elbowing, Vladimiro Montesinos, Keiko, “, Alberto Fujimori, ”, ” Fujimori’s, Susana Higuchi, Kenji, Vargas Llosa, El, Abimael Guzmán, didn’t, Pablo Kuczynski Organizations: Peru’s, University of Wisconsin, Agricultural University Locations: LIMA, Peru, Lima, Japan, Chile, ”, France, United States, Privatizing, El chino, Ecuador, Fujimori, Peru’s

☆ Here's the deflation breakdown for August 2024 — in one chart
▼ + stars: | 2024-09-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

It means that, in aggregate, the average prices of goods and services are rising, just more slowly. Where prices have deflatedFor example, prices have declined by about 5% for furniture and bedding and 3% for appliances since August 2023, according to CPI data. Outside of supply-demand dynamics, the U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Airline fares have declined about 1% over the past year, according to CPI data. Grocery prices have fallen for items such as apples, potatoes, ham, coffee, rice, seafood and bananas, according to CPI data.

Persons: Stephen Brown, it's, Sarah House, They've, women's outerwear, Brown Organizations: North, Capital Economics, Finance, Social Security, Wells, Wells Fargo Economics, U.S, International Air Transport Association Locations: U.S, North America, Wells Fargo, China

☆ Amazon is opening Fresh supermarkets after yearlong stall — but many locations remain vacant
▼ + stars: | 2024-09-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNTWorkers stock shelves at an Amazon Fresh grocery store in Seattle, Washington, US, on Thursday, May 2, 2024. As part of the Fresh store redesign, Amazon created a more colorful layout and added Krispy Kreme donut and coffee stalls. "We like the early results a lot," Jassy said on the company's first-quarter earnings call in April, referring to the revamped Fresh stores. Amazon declined to comment on the status of the Fresh stores that remain unopened. "You walk into the Amazon Fresh store in Roseville and it feels like you're in a stainless steel wine cellar," Thill said.

Persons: David Ryder, Joe Knowles, Bensalem, it's, Andy Jassy's, Jassy, CNBC it's, It's, Ted Weill, AlbaneseCormier, Weill, they've, Brent Thill, Thill Organizations: Amazon, Bloomberg, Getty, CNBC, Foods, Walmart, Jefferies, Anadolu, Mart, Shoppers, Aldi, Rancho Mirage Locations: Seattle , Washington, US, Philadelphia, Bensalem , Pennsylvania, California , Illinois, Maryland , New Jersey, Virginia, Illinois, California, Amazon's, U.S, Woodland, Los Angeles, San Mateo , California, United States, Pennsylvania , New Jersey , New York , Florida, Washington, Florida, Mirage , California, Palm Springs, Italian, Sacramento, Roseville, Amazon

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