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Read previewA new social media app targeting Gen Z, Nospace, is set to be released in June, the company told BI. Her new app jumps on Gen Z's love of Y2K and harkens back to a simpler age of social media. Nospace wants to recapture some of the magic of social media apps like MySpace and early Facebook, which centered on friendships and making new connections. Zhong is a seasoned social media pro who knows how to appeal to Gen Z trends. Through her previous companies, she's advised companies like Snapchat, Levi Strauss, and Google on how to reach a younger Gen Z audience.
Persons: , Nospace, Tiffany Zhong, Zer, Zhong, Z's, everyone's, Tati, she's, Levi Strauss Organizations: Service, Pineapple Capital, Business, Google
Joyce Preston, who's from the UK, turned 100 in March. It was also the year that Joyce Preston, who turned 100 years old last month, was born in the British town of Stockport. There, she starts her day by doing yoga or gentle exercise and loves going for walks. Joyce Preston/ Care UKPreston never married, and her biggest tip for reaching 100 is to "stay single." Joyce Preston/ Care UKBe religiousAs a founding member of an independent evangelical church, religion is important to Preston, and she believes it has contributed to her long life.
Persons: Joyce Preston, , Preston, Bryan Johnson, Paul Dolan, Preston doesn't, Rose Anne Kenny, doesn't, Joseph Maroon, Heidi Tissenbaum Organizations: Service, Care UK's, Court, Abney Court, Abney Court Care, US Bureau of Labor Statistics, Care, London School of Economics, Guardian, gerontology, Trinity College Dublin, LongeviQuest, University of Locations: who's, Ottoman Empire, Soviet Union, Stockport, Preston, Abney, Latin America
Not only would that deal another huge blow to China’s tech ambitions, it would further deepen the divide between two digital worlds centered around the rival economic superpowers. Congress on Tuesday approved legislation that could compel ByteDance to sell TikTok or face a national ban. That leaves few options for ByteDance to secure the future of TikTok in the US, its biggest market with 170 million users. “This includes everything from who owns and operates data centers, to space-based internet satellites, to undersea cables and, of course semiconductors.”In that sense, the TikTok ban has its silver lining for Beijing. Growing challenges for Chinese appsThe TikTok legislation was included in a wide-ranging foreign aid package meant to support Israel, Ukraine and Taiwan.
Persons: Hong Kong CNN —, ByteDance, Joe Biden, TikTok, , , Alex Capri, Richard Windsor, Capri, Biden, Paul Triolo, ” Triolo, Wang Wenbin, CNN’s Marc Stewart, Triolo doesn’t, — CNN’s Wayne Chang, Marc Stewart Organizations: Hong Kong CNN, Foundation, National University of Singapore’s Business, YouTube, Google, Radio Free Mobile, TikTok, Technology, Albright, Commerce Department, Commerce, China’s, Foreign Ministry, Facebook, Apple Locations: China, Hong Kong, America, Beijing, Capri, , Asia, Israel, Ukraine, Taiwan, Silicon Valley, American, Bytedance, “ Beijing
Stagwell Group, the advertising agency holding group operated by Mark Penn, a former advisor to Bill and Hillary Clinton, is actively looking to buy adtech companies as it continues to grow through acquisitions. Penn's theory is that by bringing such adtech in-house, Stagwell can offer more self-service software to advertisers who want it while also shrinking those clients' ad prices and expanding its own margins. Challenger brand Stagwell is competing for bigger contractsPenn founded Stagwell Group in 2015 with $250 million in funding from investors, including former Microsoft Chief Executive Steve Ballmer. Stagwell recently made a near-$700-million bid for S4 Capital, another challenger ad company founded by longtime WPP CEO Martin Sorrell, The Wall Street Journal reported. Publicis Groupe has the biggest market capitalization of the largest holding companies, at $28.2 billion, while Stagwell is trading at around $1.6 billion.
Persons: Mark Penn, Bill, Hillary Clinton, Penn, we're, Stagwell, Penn didn't, Ana Milicevic, Milicevic, Brian Wieser, Wieser, Steve Ballmer, Sunny, GALE, Allison, Martin Sorrell, they're Organizations: Stagwell, Penn, Business, Google, Harris Poll, Next Partners, Sparrow, Madison, Challenger, Stagwell Group, Microsoft, MDC Partners, WPP, Publicis Groupe, Veritas, S4 Capital, Street Journal, S4, EMEA Locations: adtech, London
RobertCrum | Getty ImagesDETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners. Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting. watch nowThe insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022. The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.
Persons: Sean Tucker, Kelley, David Sampson, Sampson, Biden, Mitchell, Power, , it's, Price, Mark Garrett, — CNBC's Robert Ferris, Jeff Cox Organizations: Getty, DETROIT, U.S, Auto, U.S . Bureau of Labor Statistics, American, Casualty Insurance Association, CNBC, Progressive, Power's U.S . Auto Insurance, State Farm, Liberty Mutual Locations: U.S, Power's U.S, Geico, .
More and more people are turning to pre-workout supplements (generally known as "pre-workout") to push past those feelings. The size of the global pre-workout supplements market is expected to grow from $3.15 billion in 2021 to $26.8 billion by 2030, according to market research company Skyquest. Pre-workout supplements contain caffeinePre-workout commonly comes in the form of powders that are dissolved in water, as well as pills and liquids. Caffeine content varies from pre-workout to pre-workout, but an average serving might contain 300 milligrams of caffeine, while a cappuccino might contain around 66 milligrams. "I wouldn't take super high caffeine pre-workout supplements," he said.
Persons: , Luke Worthington, Hayley Madigan, Cliff Wilson, Worthington, Wilson, Madigan Organizations: Service, Business Locations: London, Chicago
Read previewLeBron James and Maverick Carter's company has launched a men's grooming collection inspired by "The Shop." "There was even a moment where we had Travis Scott as a guest, where he said he Googles face routines and men's grooming routines." According to data from market research company Grand View Research, the global market for men's grooming products was valued at $202.6 billion in 2022. AdvertisementCarter told BI that young consumers willing to ignore stereotypes surrounding men's grooming have helped bolster that growth. Purchase The Shop grooming collection at Walmart now.
Persons: , LeBron James, Maverick, James, Carter, Paul Rivera, LeBron James himself, Rivera, Travis Scott Organizations: Service, SpringHill Company, Business, View Research, Walmart Locations: New York, SoHo
The NYT Connections game has players in an uproar. For those unfamiliar with the game, players are tasked with finding the connections between four groups of words. And the new-look emoji game has left some users confused and even a little angry when they went to play Connections. "nyt connections editor I am in your walls," one post read. And one person on X pointed out, "No one is forcing you to do the NYT connections, by the way."
Persons: , sarah 💛🤎 Organizations: Service, New York Times
Luxury hotel rates reached "peak levels" this year, with average daily rates up 70% compared to 2019, according to the luxury travel company Virtuoso. The price for luxury train travel is also soaring, with rates for Accor's yet-to-be-opened La Dolce Vita Orient-Express climbing 75% in 16 months. When money is 'no object'As inflation and rising costs abate, luxury travel prices are holding firm. Wealthy travelers also value new and different experiences, such as luxury train travel, he said. Booking early can save money on airfares, but hotel pricing works differently, he said.
Persons: aren't, Belmond, Accor, Henry Harteveldt, Harteveldt Organizations: CNBC Travel, Dolce Vita Orient, Orient, Express, Atmosphere Research Group Locations: Italy, Venice
Read previewThe accountant shortage is so bad that companies are delaying filing key mandatory reports. On Friday, Tupperware said it didn't have enough accountants to get its annual report out on time. The storage container manufacturer is the latest on a growing list of companies that have delayed their annual reports for a host of reasons. About 70 companies have postponed annual reports this year, up 40% from last year, research company Intelligize tallied last month. Tupperware added that previous delays in filing its 2022 annual report led to postponement of its quarterly reports, which subsequently pushed back work on its 2023 annual report.
Persons: , Tupperware, Intelligize, Steven Kachelmeier, Fitness Organizations: Service, Business, LinkedIn, PricewaterhouseCoopers, American Institute of Certified Public Accountants, US Bureau of Labor Statistics, Accountants, University of Texas, Mattel, Securities, Exchanges Locations: Orlando, Poland, American
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLuxury travel prices are high because 'the demand is there'Luxury travel prices are increasing because wealthy travelers are willing to pay the rates. 'Money is almost no object for some of these guests,' said Henry Harteveldt, president of the travel market research company, Atmosphere Research Group.
Persons: Henry Harteveldt Organizations: Atmosphere Research
On Friday, the head of the exclusive hotel and social club chain Soho House said the company saw a record rise in non-alcoholic drink sales during this year's Dry January. "What we also saw in January was a much bigger spike in non-alcoholic beverage consumption, much more than we've ever seen before," said Andrew Carnie, the chief executive officer of Soho House, on the company's earnings call. The Soho House brand has long prided itself on being associated with all things cool and en vogue — and the low-to-no booze trend is no exception. Millennials are the most interested in non-alcoholic drinks, compared with older and younger peers, per ISWR. UK bar revenues in January were down 11.5% compared with the same period in 2023, according to market researcher CGA.
Persons: , Andrew Carnie, Blake Lively, Katy Perry, Bella Hadid Organizations: Service, Soho, Business, Soho House, Guardian, British Locations: Soho, London, Bangkok, Moscow
In France, a land of fine dining, Michelin stars and high standards for cuisine, there's a surprising favorite: American fast food. Expilly oversaw Popeyes' 2023 arrival in France while serving as COO of Popeyes France for French restaurant group Napaqaro. Burger King specifically has gone aggressively after the market "given the propensity for American quick service foods and concepts in France," Charles said. In 2024, McDonald's and Burger King hold more than 40% of the market, according to Euromonitor International, and now consider it their biggest one outside the U.S. French QSRs did take a hit in 2020, but the industry bounced back quickly, earning more profits in 2021 than before the pandemic, according to Euromonitor International.
Persons: Xavier Expilly, EXPM, Expilly, Popeyes, Burger, McDonald's, Andrew Charles, Cowen, Charles, Burger King, Joel Tissier, haven't, Tissier Organizations: Euromonitor, CNBC, Restaurant Brands, Canadian, Mac, Créteil, KFC, Euromonitor International, BK Locations: France, Europe, American, Burger, Paris, United States
The obsession with lavish weddings grew to a fever pitch in the years following the start of the Covid-19 pandemic. That’s bad news for wedding vendors who provide services like videography, photo booths and catering. Meanwhile, those vendors are facing a more worrisome existential threat: a looming drop in the overall number of weddings. But she said that so far in 2024, weddings are “cooling a bit.”A recent wedding where Gabrielle Stone served as the planner. In another life, some of those would-be couples who never met in 2020 could have gotten engaged this year.
Persons: , Shane McMurray, What’s, McMurray, Gabrielle Stone, ” Stone, Stone, Kay, Jared, Gina Drosos, , Z, ” McMurray, Toni Burrowes, Burrowes, didn't, Toni Burrowes “, Alyssa Young, We've, Alyssa Young “, it’s, ” Young, It’s Organizations: CNN, Signet Jewelers, Kay Jewelers, Signet, Alpha, University of Virginia, Brigham Young University, Bureau of Labor Statistics Locations: Boston, Zales, Central Florida, San Antonio, Texas
Kopi luwak is a coffee delicacy made from civet feces and is popular in Bali. Advertisement"Deliberately misleading claims about how civet coffee is obtained are rampant in Bali," the video's in-text caption read. Kopi luwak is made by cleaning and roasting partially digested coffee beans excreted by civets. Kopi luwak is also known for its high price point, costing between $45 and $600 per pound, Baker told CNBC. In 2022, PETA said tourists should avoid the kopi luwak after civets were found to be distressed when their feces were collected.
Persons: civets, , Jason Baker, kopi, Baker, luwak, It's Organizations: PETA, Service, Google, YouTube, CNBC, Bali Tourism Board, Business, kopi Locations: Bali ., Bali, Catur, Ubud, Ohio
Visitors are visiting TikTok's stand at the Appliance & Electronics World Expo (AWE) in Shanghai, China, on April 27, 2023. CostFoto | Nurphoto | Getty ImagesThe U.S. could be about to force ByteDance, the Chinese tech giant that owns TikTok, to divest its U.S. business or effectively ban the app. But a sale looks unlikely — not least because China is expected to block it. Last year, the U.S. Committee on Foreign Investment in the United States (CFIUS) told ByteDance to divest TikTok or face a ban. TikTok algorithm at the centerWhat complicates a sale further is TikTok's algorithm.
Persons: ByteDance, Paul Triolo, Albright Stonebridge, CNBC's, Wang Wenbin, Shu Jueting, CFIUS, China's Shu, Triolo, Richard Windsor Organizations: Appliance, Electronics, Nurphoto, Senate, Washington, Lawmakers, Chinese Communist Party, TikTok's, China's Ministry of Foreign Affairs, NBC, U.S ., Foreign Investment, China's Ministry of Commerce, Radio Free Mobile, TikTok Locations: Shanghai, China, United States, TikTok, U.S, ByteDance, TikTok USA, USA
It was more than double the value of the next-largest deal, a Japanese healthcare merger that clocked in at $22 billion. And, for its part, Seagen tapped advisors at two boutique firms: Centerview and MTS Health Partners. "We want to be the preeminent healthcare bank. Last year, during a healthcare M&A boom that's expected to continue this year, the bank onboarded 14 new staffers, including the partners, a company spokesperson said. Advertisement"We are absolutely in growth mode looking to have high-quality bankers who are capable of generating business off of this platform without all the accoutrements of a big bank," Weisenfeld continued.
Persons: Seagen, Andrew Weisenfeld, Goldman Sachs, Morgan Stanley, Dealogic, Weisenfeld, , Curtis Lane, Bear, Daun Chung, Ryan Stewart, Reed Alexander Organizations: Service, Pfizer, Guggenheim, Centerview, MTS Health Partners, MTS, Goldman, JPMorgan, Bank of America, Partners, CTI, New, Bear Stearns, London Stock Exchange, Seagen, Medicines, Novartis, Chase Securities, Health Partners, Guggenheim Securities, Triple, SVB Securities, Solomon Partners, Citigroup Locations: Wall, New York City, Seattle
The credit card debt for young Americans has grown at a faster pace than other generations. AdvertisementAmericans are in the midst of a credit card crisis, and nobody is being hit harder than millennials and Gen Zers. The study examined the anonymized credit scores of 41 million customers and anonymized credit card balances for about 80 million people in March 2022 and February 2024. Credit scores are falling for young AmericansThe soaring credit card debt has coincided with falling credit scores for these younger groups of consumers. If that happens, credit card debt will likely keep growing, and credit scores for young Americans could keep dropping.
Persons: Gen Zers, , Zers, Z, millennials —, Rich Franks, Franks, Gen Z, that's, OnePoll, millennials Organizations: Service, Federal Reserve Bank, Intuit Credit Karma, Intuit Credit, Forbes, MMI, Money Management Locations: millennials
Justin Farren, Creative Director at Ubisoft Singapore, reveals "Skull & Bones" during the Ubisoft E3 conference at the Orpheum Theater on June 11, 2018 in Los Angeles, California. Ubisoft Singapore officially launched its first major video game, Skull And Bones, for the PlayStation 5, Xbox Series X/S, and PC on Friday, ending an unusually long development saga that spanned over a decade. Ubisoft Singapore received a grant from the Economic Development Board in 2016 to aid in the development of an "AAA" game title from the city-state. The "AAA" game classification refers to titles that are produced and distributed by large, well-known publishers that will typically have high development and marketing budgets. According to data collected by market research company YouGov in 2020, at least three-quarters of the population in Singapore plays video or mobile games, which jumps to 90% among those aged 18 to 24.
Persons: Justin Farren, Jean, Francois Vallee, CNBC's Organizations: Ubisoft Singapore, Ubisoft, Orpheum, PlayStation, Economic, AAA Locations: Los Angeles , California, AAA, Singapore
But according to CNN calculations based on official data, the average tourism-related spending per trip was below pre-pandemic levels, as consumer confidence remains weak amid deflationary pressure. However, the most recent holiday season took place over eight days from February 10 to February 18, which was one day more than previous periods. On average, 59.25 million domestic trips per day were made during this holiday period, slightly lower than the 59.29 million trips per day taken in 2019. Movie ticket sales reached a record 8 billion yuan ($1.11 billion) during the eight-day holiday season, according to data released on Sunday by China Film Administration. “The headwinds to growth remain severe and it will take more than a bump in holiday travel for market sentiment to recover,” said Neumann.
Persons: ” Nomura, , Frederic Neumann, Neumann, Organizations: Beijing CNN, CNN, Ministry of Culture, Tourism, Hangzhou East Railway, National Immigration Administration, China Film Administration, HSBC, China Index Holdings, Shenzhen Component Locations: China, Hong Kong, Beijing, Hangzhou, China's Zhejiang province, Macao, Asia, Shanghai, Shenzhen
He said he had to battle the negative perceptions people have of military veterans who leave the force. Jianhui TanI left the SAF with no job offers on hand, and my career transition journey was stressful. I relied on my savings while looking for work and spent around six months taking courses to get new certifications. AdvertisementGetting used to the corporate worldOne of the biggest differences between the military and the private sector was the culture. That wasn't the case in the corporate world, where organizational bonding isn't as strong as it is in the military.
Persons: Jianhui Tan, Tan, , couldn't, hirers Organizations: Singapore Armed Forces, Service, SAF, Euromonitor
Starboard Value's Jeff Smith added to his GoDaddy holding while trimming his lucrative activist bet in Salesforce , according to a new regulatory filing. The hedge fund increased its stake in GoDaddy to nearly $925 million, making the web services company its biggest holding. Starboard continued to trim its stake in customer relations management software company Salesforce , which in 2022, he took an activist stake in. The filing also reveals a few new stakes for Starboard, including News Corp and Fortrea . CNBC had already reported on these stakes when Smith appeared at a conference in last year.
Persons: Jeff Smith, Smith, He's Organizations: Wharton, News Corp, Fortrea, CNBC Locations: Salesforce, GoDaddy, New York
Here are Thursday's biggest calls on Wall Street: Macquarie downgrades Sony to neutral from buy Macquarie said it sees a more balanced risk/reward for the entertainment company. "With Sony near our target price and market expectations at risk given lacklustre FY3/25 guidance, we are downgrading to Neutral." Deutsche Bank reiterates Rocket Lab as a top pick Deutsche said it's standing by its bullish status on the space company. " Bank of America initiates Super Micro as buy Bank of America said the server and storage solutions company is an AI beneficiary. Bank of America reiterates Uber as buy Bank of America said it's feeling more bullish after the company's investor day.
Persons: Macquarie, Davidson, DA, Piper Sandler, Piper, KeyBanc, Evercore, Skechers, Price, Bernstein, underperform Bernstein, Redburn, Eastman, Morgan Stanley, Wells, Morgan Stanley downgrades, Guggenheim, Generac, Uber, Tesla, KBW, Berkshire Hathaway Organizations: Macquarie, Sony, JPMorgan, Deutsche Bank, Deutsche, Nvidia, Citi, FedEx, Apple, HSBC, GE Healthcare, GE, Crypto, UBS, Downside, Eastman Chemical, Comcast, Cisco, Cliffs, Steel, " Bank of America, Air Products, of America, Linde, Bank of America, Micro, Inc, Guggenheim, Mizuho, Energy, BMO, CNBC, & $ Locations: Nashville, China, Morgan Stanley downgrades Cleveland
Uber Eats says its flower orders peak on Valentine’s Day between 10 a.m. and 5 p.m. Uber Eats says it also appears to be a resource for forgetful lovers: Its flower orders are 60% higher than average on the day after Valentine’s Day. But I love making people happy.”Bryant sympathizes with the people who call in orders on Valentine’s Day. She spent a lot of time trying to figure out how many flowers to order for her shop this Valentine's Day. In 2023, 30% of OpenTable reservations for Valentine’s Day were made the day before and 18% were made on the day of. The venue gets requests all the way through Valentine’s Day, says Katie Higgins, Meadow Brook’s marketing and communications manager.
Persons: , Amanda Schoenbauer, they’re, Candy, décor, Target, Uber, Procrastinators, Linda Bryant, “ Valentine’s, , ” Bryant sympathizes, it’s, Katie Higgins, Meadow, Joseph Ferrari, Ferrari, Don’t, Anne D'Innocenzio Organizations: Walmart, National Retail Federation, Walgreens, Valentine’s, DePaul University in, AP Locations: Panama , Nebraska, Rochester , Michigan, DePaul University in Chicago, New York
CNN —At least 63% of American Jews said their place in American society is less secure than a year ago, according to a new report released Tuesday by the American Jewish Committee. The share of American Jews who said the status of Jews in the United States has become less secure increased 22 percentage points when compared to last year’s survey. The American Jewish Committee has commissioned a survey on the state of antisemitism in the US annually since 2019. Nearly half of American Jews said they think antisemitism is taken less seriously than other forms of hate and bigotry, according to the survey. That’s compared to 38% of American Jews in 2022, according to the advocacy organization.
Persons: Ted Deutch, , Organizations: CNN, American Jewish Committee, Antisemitism, American Jewish, Defamation League Locations: , America, United States, Israel
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