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The era of freeloading is officially over
  + stars: | 2024-08-12 | by ( Allison Morrow | ) edition.cnn.com   time to read: +4 min
But thanks to the fine-tuning of the tech that Corporate America uses to police subscriptions, those freeloading days are over. Costco and Disney this month took a page from the Netflix playbook and announced they are cracking down on account sharers. Disney’s streaming business — Disney+, Hulu and ESPN+ — only became profitable in the second quarter this year. Like Netflix, Costco is betting that you’re already emotionally invested in the routine and the satisfaction of getting a closet’s worth of toilet paper that can last the whole year. Last year, the store reported $4.6 billion in revenue from membership fees, and that accounts for the majority of its profit.
Persons: CNN Business ’, they’d, It’s Organizations: CNN Business, New York CNN, Thought Police, Costco, Netflix, America, Disney, Wall Street, Amazon, Apple, HBO, YouTube, Hulu, ESPN, Costco there’s Locations: New York
A special committee warned that another “major earthquake” could hit in the coming week – the first time in its history the body had issued this type of nationwide advisory. Then there’s the looming threat of the Nankai Trough megathrust earthquake – the most powerful of its kind, with magnitudes that can exceed 9. Japan’s government has warned of the possible Nankai Trough quake for so many years that the possibility of it occurring has become common knowledge. The ‘big one’The Nankai Trough is a 700-kilometer long (435-mile) subduction zone, which refers to when tectonic plates slip beneath each other. “I tell (my students), the Nankai Trough earthquake will definitely come, whether it’s your generation or your children’s generation,” he said.
Persons: , Shoichi Yoshioka, ” Yoshioka, Kim Jae, it’s, , Robert Geller, It’s, Yoshioka, Geller, ” Geller, Yota, Mashiro Ogawa, Megumi Sugimoto, “ It’s, Shuhei Yokoyama, there’s, Sugimoto Organizations: Tokyo CNN, Japan’s Kobe University, , Residents, Getty, government’s Earthquake Research, Kobe University, University of Tokyo, Asahi Shimbun, Osaka University Locations: Japan, Europe, United States, Ishinomaki, Miyagi prefecture, AFP, Nankai, Philippine, Tokyo, Noto Peninsula, Wajima City, Noto, Fukuoka, Kyushu, Kumamoto
Insider Today: A shot to reverse aging
  + stars: | 2024-08-10 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +7 min
On the agenda:This story is available exclusively to Business Insider subscribers. AdvertisementVeronica Thatcher, who's worked at Costco for 18 years, told Business Insider she also spotted "Halloween- and harvest-themed decorative pillows" in the big-box store this month. According to eMarketer, Lowe's made Halloween merch available online on June 1 and it'll be available IRL on August 23. iStock; Rebecca Zisser/BIWealthy patient, healthy jointsIt's hard to slow down aging, but the wealthy are giving it their best shot, literally. More of this week's top reads:The Insider Today team: Jordan Parker Erb, editor, in New York.
Persons: , I'm, Chelsea Jia Feng, you've, Veronica Thatcher, who's, Mike Booth, prepping, eMarketer, Lowe's, Taylor Rains, Insider's Taylor Rains, Beond, Rebecca Zisser, Bryan Johnson, — Johnson, Edward Berthelot, Burberry, Natalie Ammari, they've, Kit Harington, Oscar, Anthony Hopkins, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Amanda Yen Organizations: Service, Business, Retailers, Costco, CFVR, Home Depot, Burberry, US, HBO, Paramount, Showtime Locations: Alberta, Canada, Michaels, Italy, Maldives, Dubai, Bahamas, British, London, Nazi, New York, New York City
This story is available exclusively to Business Insider subscribers. AdvertisementOver on Reddit, Target workers have posted some big numbers, often topping the 10 miles that caught the attention of Walmart's CFO. one user said on a subreddit for Target workers in July. Healthcare workers topped the list: It said some hospital staffers could reach 60,000 steps, or 30 miles, during a 12-hour shift. A Target spokesperson told Business Insider that while the company did estimate time and distance as part of assigning work, it did not individually track employees' movements throughout the day.
Persons: , John David Rainey, they've Organizations: Service, Business, Apple, US Postal Service, CNBC, Target, Walmart Locations: Reddit, Tennessee
But all the excitement to get a jump start on Halloween comes as consumers are showing more signs of financial stress. Tricking consumers into treating themselves more“It’s clear that consumers have been interested in buying Halloween products earlier and earlier,” said Champine. Michaels said it started selling Halloween goods in June, the earliest the retailer has ever done so. The initial launch of Halloween goods at Michaels “has been consistently beating our internal expectations,” he added. By selling Halloween goods earlier, they’re likely hoping it’ll decrease the likelihood of having to discount, she added.
Persons: can’t, , Laura Champine, they’re, Joe Feldman, Michaels, ” John Gehre, Michaels “, ” Kelsey Robinson, Lance Allen, , ” Allen, David Zalubowski, they’ve, they’ll, Champine, ” Lowe’s, Feldman Organizations: New, New York CNN, Disney, Walt Disney, Loop, Telsey Advisory, CNN, Costco, Consumer, McKinsey, Labor, Depot Locations: New York, Los Angeles, Sheridan , Colorado, Lowe’s
CNN —The US, UK and France are among several countries urging their citizens to leave Lebanon as heightened tensions in the region spark fears of a widening Middle East conflict. Haniyeh’s death came just hours after an Israeli strike on the Lebanese capital Beirut killed Hezbollah’s most senior military commander, Fu’ad Shukr. Many countries already had travel warnings in place but have issued fresh advice in the wake of the latest developments. AFP/Getty ImagesFrance told its citizens to make arrangements to leave Lebanon “as soon as possible” in a statement from the Ministry for Europe and Foreign affairs on Sunday. Israel says it is ready for “range of scenarios” following the assassination of Ismail Haniyeh in Iran.
Persons: , David Lammy, , Ismail Haniyeh, Hezbollah’s, Fu’ad, Jordan Organizations: CNN, Saturday Hezbollah, AFP, Getty, France, Ministry for, Foreign, ” Airlines, Air France, Lufthansa, Kuwaiti Airlines, Saturday, Pentagon Locations: France, Lebanon, ” Britain’s, Iran, Israel, Tehran, Beirut, Gaza, Metullah, Ministry for Europe, Jerusalem
A renewed spotlight on protecting access to birth control may not help women who are already struggling to find affordable contraception in some states with the strictest abortion laws. Few community clinics have the amount of money needed to cover birth control each month, McCollum said. But over-the-counter birth control pills haven’t reached many women in rural areas. Because of the Texas policy change an estimated one-quarter of family planning clinics in the state closed by 2013. “If someone does not have insurance, we can pay for their visit and their birth control method,” McCollum said.
Persons: Robin Marty, ” Marty, Court’s Dobbs, Roe, Wade, Kate McCollum, McCollum, , Adek Berry, haven’t, , Marty, Jitoria Hunter, It’s, ” McCollum, ” Hunter, Micaela Sanchez, it’s, Sanchez, ” Sanchez, Meta Anderson, ” Anderson Organizations: Healthcare, Medicaid, Getty, and Drug Administration, Target, Walmart, Walgreens, CVS, Center for Healthcare, Mississippi Delta Locations: Tuscaloosa , Alabama, Alabama, Southern, Mississippi, Texas, Dallas . Federal, AFP, ” In Mississippi, Tennessee, Alabama , Mississippi, Louisiana , Arkansas, Oklahoma, In Texas, In Mississippi, Alabama , Texas, Dallas County, Dallas, Louise , Mississippi, Georgia
“Buy the bigger ice machines,” Phoenix Fire Captain Robert McDade tells emergency managers who call for advice from around the world. “Be willing to change what you’ve done.”An unhoused man finds little respite from the heat in the shade of a bus stop in Phoenix. Phoenix first responders are stocking body bags filled with ice to treat victims of heat stroke, bringing their core body temperature down on the way to the hospital. Julian Quinones/CNNFirst responders at Fire Station 61 are treating more victims of heat illness as temperatures soar in Phoenix. Every summer we learn, and we improve.”A heat respite center at Burton Barr Central Library just north of downtown Phoenix.
Persons: it’s, Coroners, , Robert McDade, Julian Quinones, CNN McDade, McDade, , ” McDade, John Prato, Kate Gallego, we’ve, ” Gallego, didn’t, Evelio Contreras, Katie Hobbs, Eugene Livar, Arizona’s, there’s, Jennifer Vanos, Vanos, MaRTy ”, CNN Evelio Contreras Organizations: CNN, Phoenix, Harvard, Phoenix City Council, Burton Barr Central Library, CNN Arizona, Arizona State’s School of Sustainability, Vanos Locations: Phoenix, Maricopa County, Chicago, Albuquerque, Arizona,
AdvertisementThese convenience stores also double up as pit stops that live up to their name by offering customers access to ATMs and printers, as well as other services like bill payments and buying concert tickets. That said, Americans who want to enjoy some of the Japanese 7-Eleven magic closer to home won't have to wait much longer. America's 7-Elevens get a Japanese makeoverThe stores in the US will soon get a fresher variety of food similar to their Japanese counterparts. Related storiesAs Isaka told Bloomberg in February, that strategy is now all about getting "fresh food" on shelves. That process is being helped by Warabeya Nichiyo, a key food supplier for 7-Eleven Japan, as it looks to build its third plant in the US, costing $81.5 million.
Persons: , Lawson —, Elevens, Ryuichi Isaka —, Isaka, Warabeya Nichiyo, she'd Organizations: Service, Business, YouTube, Holdings, Speedway, Bloomberg, Street Journal Locations: Haneda, Narita, North America, Tokyo's Asakusa, Dallas, American, Tokyo, Japan, Orange County , California
Tesla : The electric vehicle maker missed expectations on earnings per share (EPS) in the second quarter, and the stock dropped 12%. CNBC's Jim Cramer praised Tesla CEO Elon Musk's post-earnings conference call. "It was a manifesto of what he's thinking about long term," Cramer added. Dow stock Visa dropped more than 3%. Cramer said GE Vernova does not talk up its natural gas business because it wants to be known as clean energy.
Persons: Jim Cramer's, CNBC's Jim Cramer, Elon Musk's, Cramer, there's, Haviv Ilan Organizations: CNBC, Club, Dow, Visa, GE, Texas Locations: U.S
He's even expanded his job search to restaurant and retail jobs — e.g. AdvertisementHesmondhalgh shared why he thinks his job search has been so challenging and what he plans to do moving forward. AdvertisementIdeally, he'd land a job in journalism — the field he has two degrees in. He thinks he's struggled to land journalism roles because most of the positions he's looked at require three to five years of formal newsroom experience, and he doesn't have that. Going forward, Hesmondhalgh said he plans to continue his job search for as long as necessary.
Persons: , Roland Hesmondhalgh, He's, Hesmondhalgh, hasn't, he's, it's, he'll Organizations: Service, Florida Institute of Technology, Business, Georgetown, Bureau of Labor Statistics, Supreme, US Capitol Locations: Virginia, Washington, DC, Arlington , Virginia
It found that people generally have a strong preference for a brick-and-mortar experience when buying luxury items. Online luxury sales picked up during the pandemic but have since come back down to earth. The overarching theme is that many consumers haven't warmed up to shopping luxury — namely, ultra-luxe items and brands — online. AdvertisementWe try to treat luxury with the same e-commerce experience we use for paper towels, and that just doesn't work. For the most part, luxury brands prefer that customers would rather shop in-store.
Persons: Gen Z, Claire Tassin, haven't, Jason Goldberg, hasn't, Goldberg, Luca Solca, Solca, Nora Kleinewillinghoefer, Prada, Tassin, Louis Vuitton, Kleinewillinghoefer, Emily Stewart Organizations: Walmart, Morning, Moda, Groupe, Bernstein, Bain & Company, Burberry, Gucci, luxe, Companies, Amazon, Business Locations: , Kearney
The firm is looking at specific levels for the 10-year Treasury yield and manufacturing PMI. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. New research from Bank of America outlined two specific criteria that could serve as signals the rally will continue. AdvertisementMeanwhile, manufacturing PMI fell to 48.5 in June. "The Manufacturing economy is in the second longest downturn in history with 21 months without two straight months of 50+ PMI.
Persons: , SPW, Russell, Tom Lee Organizations: of America, PMI, Service, Bank of America, Treasury, 6.3ppt, Bank of America Global Research, Federal Reserve, Barclays Locations: outperformance
Since moving to Indiana, I have to drive two hours to get to the closest Trader Joe's. Some items are worth making the trek for, like the granola bites, cacio-e-pepe ravioli, and syrup. AdvertisementWhen I lived in Southern California, I had tons of Trader Joe's locations to choose from. But now that I reside in Southern Indiana — where there are only four stores in the entire state — I drive two hours to and from the closest location. Because I live so far away, I typically travel to Trader Joe's once a month, stocking up on lots of canned goods and cleaning products.
Persons: Joe's, pepe ravioli, Organizations: Service, Southern Indiana —, Business Locations: Indiana, Southern California, Southern Indiana
He works two or three days a week at a Walmart warehouse and cashes his monthly Social Security check, which he said is enough to finance his "simple" lifestyle. AdvertisementHe lives in Finleyville, Pennsylvania, a town 45 minutes south of Pittsburgh and receives $1,022 a month in Social Security, according to documents viewed by BI. Some are living paycheck to paycheck on Social Security, which could start shrinking by 2030 . The paychecks help supplement this Social Security income, and he said the job keeps him active and social. Are you an older adult living on Social Security?
Persons: , George Dziamniski, frugally, Dziamniski, doesn't Organizations: Service, Walmart, Social Security, Business, BI, Northwestern Mutual, Survey, SNAP, Medicare Locations: Finleyville , Pennsylvania, Pittsburgh, Finleyville
The U.S. Department of Labor announced a settlement Thursday with Dollar General , requiring the retailer and its subsidiaries to pay $12 million in penalties and implement significant workplace safety improvements in its more than 19,000 stores nationwide. Gun violence has also been an issue for Dollar General stores: 49 people have been killed and 172 people have been injured at Dollar General stores by gun violence, according to 2023 data from nonprofit Gun Violence Archive. A repeat offender with the Department of Labor, Dollar General became the first company to be added to OSHA's "severe violators" of workplace safety rules list in 2023, after the agency expanded the reach of its safety enforcement program. The settlement with the Department of Labor also requires Dollar General to monitor outcomes of those efforts and provide quarterly reports to OSHA. CNBC has reached out to Dollar General for additional comment.
Persons: Health Douglas Parker Organizations: U.S . Department of Labor, Dollar, federal, Safety, Health Administration, Violence, Department of Labor, Occupational Safety, Health, Safety Operations Center, OSHA, CNBC Locations: Tennessee
"A solid iPhone replacement cycle and spec upgrade should help HH's better sales/earnings in 2025-26," the investment bank's analysts wrote. The bank expects the China-based design and manufacturing giant to see strong margins as demand for its casings increases in tandem with better iPhone shipment cycles between 2025 and 2026. "We lift Foxconn Industrial Internet (FII)'s 2024-26E earnings by 2-6% on potentially better iPhone casing sales and strong AI server contribution," the analysts wrote. "We expect BYDE's casing profitability to gradually improve on better operation efficiency (higher automation rate, improving yield)," the analysts wrote. They have lifted the company's 2025-2026 earnings expectations by 2% to "reflect potentially better iPhone volume, robust auto expansion as well as rising AI-related contribution (server, robot)."
Persons: Ming, Chi Kuo, Ross Young, Hai, BofA, Foxconn, — CNBC's Michael Bloom Organizations: Tech, Apple, Bank of America, Hai Precision Industry, Taiwan Stock Exchange, American Depository, New, Industrial, Taiwan Stock Exchanges, U.S . Its, Shenzhen Stock Exchange, China 5G, Semiconductor, Hong Kong Exchange, Hong Locations: U.S, New Taiwan, China, Shanghai, Taiwan, U.S . Its Shanghai, Hong Kong
And at some Chipotle locations, customers filmed workers to try to make sure they didn't skimp on their burrito bowls. The three joined a growing list of consumer brands contending with customers' deep frustration over high prices — and wariness that prices will only rise more. Walmart, on the other hand, said the new price tags will cut a tedious task from store workers' to-do lists. They eliminate the need for store workers to swap out traditional paper tags. Shoppers at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024.
Persons: Wendy's, Jean, Pierre Dubé, David Chavern, Donald Trump, Joe Biden, Kevin Lamarque, hasn't, Dianna Campbell, she's, Campbell isn't, Biden, skimping, Sen, Bob Casey, Andrea Foote, Tricia Moriarty, it's, Jim Cramer, CNBC's, Brian Niccol, Chipotle, We've, Wells, Zachary Fadem, Brandon Bell, It's, Kirk Tanner, Yuki Iwamura, Cristina Rodrigues, Gabby Jones Organizations: Walmart, University of Chicago Booth School of Business, Consumers, U.S . Bureau of Labor Statistics, Consumer Brands Association, Procter, Gamble, Pew Research, Pew, Reuters Shrinkflation, Federal Reserve, Customers, Gatorade, PepsiCo, CNBC, Chipotle, New York, Mexican Grill, Getty, American Farm Bureau Federation, Bloomberg, University of Chicago Locations: U.S, Goffstown , New Hampshire, Manhattan, New York City, Mexican, Austin , Texas, Queens, New York, Europe, Secaucus , New Jersey, US
New York CNN —With interest rate cuts on the backburner, Wall Street is looking to corporate earnings to continue powering the 2024 stock market rally. Analysts polled by FactSet expect second-quarter earnings of S&P 500 companies to grow about 8.7% on average from the prior year. Strong corporate earnings have helped the S&P 500 gain a whopping 16% and notch repeated record high closes this year. Since the Fed isn’t likely to cut rates anytime soon, the onus is on strong corporate earnings to continue driving the market rally. Earnings season kicks off July 12 when big banks including JPMorgan Chase, Wells Fargo and Citigroup report results.
Persons: FactSet, Jerome Powell, , Jeffrey Buchbinder, Wells, Dow, Lisa Shalett, Jessie Yeung, Hanako Montgomery, Junko Ogura, , Tadashi Matsubara, ” Read, Laura He, Pan Gongsheng, Read Organizations: CNN Business, Bell, New York CNN, Federal, LPL, JPMorgan Chase, Citigroup, Nvidia, Microsoft, Meta, Dow Jones, Morgan Stanley Wealth Management, Kanpou, , Beijing Money, Silicon Valley Bank, People’s Bank of China, prudential Locations: New York, Sintra , Portugal, Wells Fargo, Banks, Japan, Nepal, China, Beijing, Silicon, United States, Shanghai
Learn moreThe 4th of July sales and deals are officially underway, and what could be more patriotic than stocking up on some products made in the USA? Whether you're ready to drop some major cash or you're just looking to browse some knickknacks, we've got you covered. Brands like Zippo, Igloo, and Brooklyn Bedding all carry multiple American-made products, and we've highlighted some of the best. Don't forget to check out our massive roundup of the best 4th of July sales from products made around the world, too. It's pre-seasoned for convenience, and this brand regularly features in our guide to the best cast iron skillets.
Persons: we've, Buddy Organizations: Business, Brands, Weber, Purple, Walmart Locations: USA, American, Brooklyn
“Without Nepal, Japan would not function.”The yellow flowers of the paperbush shrub seen in Dolakha, Nepal, in December 2023. Its bark has long, strong fibers that are perfect for making thin yet durable paper, according to the Kantou website. But as the shortage of Japanese paperbush became evident in the following years, Kanpou and the Nepali farmers ramped up production until they became the main source of the yen bill. It’s a protracted process, said Matsubara: farmers plant seedlings in early summer, harvest their branches in the fall, then spend several months processing the bark through steaming, peeling, washing and drying. The profits from the paperbush sales have provided a new revenue stream to Nepali communities, said Matsubara.
Persons: , , Tadashi Matsubara, Matsubara, Tadashi Matsubara Kanpou, It’s, it’s, Eiichi Shibusawa, , Kanpou Organizations: Tokyo CNN — Banks, Kanpou, , National Printing Bureau, Kyodo, Bank of Japan, Observatory, Ministry of Economy, Trade, Industry, government’s Japan International Cooperation Agency, CNN Locations: Japan, Nepal, China, Dolakha, Everest, Tokyo, Farmers, Kathmandu, Indian, Kolkata, Yokohama, Odawara, Ilam, Nepal’s Ilam
De minimis shipments have also grown more popular with American brands looking to save money in their supply chains. AdvertisementThe startup Portless emulates Shein's model by fulfilling online brands' orders in China and shipping them directly to customers. Even though awareness of de minimis has grown, Section 321 shipments still account for only about 5% of ShipHero's business overall. At the end of May, The Information reported that US Customs and Border Protection had begun cracking down on de minimis shipments, including suspending several brokers from a program called Entry Type 86, designed to speed up de minimis shipments. "The American brands that we service are more profitable and do better prices to their customers."
Persons: , it's, Portless, Izzy Rosenzweig, Jolie, Evan, Matt Nichols, JADE GAO, minimis, Prince Ghosh, Maggie Barnett, Barnett, Temu, I'm, Rosenzweig Organizations: Service, Business, Commerce Ventures, US, Lawmakers, Chinese Communist Party, Customs, Protection Locations: China, Portless, San Francisco, Canada, Mexico, American, Canada's
I would have never guessed that being single, juggling my career, graduate school, and parenting two toddlers would be stamped on my bingo card. As a single mom of two, every achievement feels even sweeter. Graduating with a Master's of Social Work from the University of Texas at Arlington with two toddlers feels more than a personal achievement. As a first-generation high school and college graduate, I knew obtaining another degree would be challenging. When my children napped, I scheduled work blocks to focus on work calls and client updates.
Persons: It's, we'd, Dory Organizations: Service, University of Texas Locations: Arlington
The jeans creator on Wednesday posted fiscal second quarter revenue that fell just short of Wall Street's expectations at a time when shoppers are stocking their wardrobes with denim dresses, skirts and ultra-low-rise baggy pants. It's not clear how sales at Docker's were affected by the timing of Levi's wholesale orders. The changes are necessary because nearly half of Levi's sales these days are coming from its own website and stores. During the quarter, wholesale revenue grew 7%, but excluding the shift in timing of wholesale orders, sales in the channel decreased 4%. Singh noted that wholesale revenue improved on a sequential basis, but the company has a "conservative" view of the channel's growth moving forward.
Persons: hasn't, Levi Strauss, Levi's, Harmit Singh, Singh, Michelle Gass Organizations: LSEG, Finance, CNBC, Levi's, Nike Locations: U.S, Europe, Macy's
I'm a Sephora employee, so I know the best products to stock up on to prepare for the summer. AdvertisementSephora offers tons of great products, and as an employee, I'm always looking to find the best ones. Over the nearly two years I've worked at Sephora, I've loved stocking up on the best makeup for each season. This summer, I'm focusing on products that will look good no matter how hot it gets. Here are five beauty products I'd recommend grabbing at Sephora to prepare for summer.
Persons: Lauder, , I'm, I've Organizations: Service Locations: Sephora
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