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Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 15 (Reuters) - Shares of SoftBank's Arm Holdings closed a volatile session lower on Friday, a day after a stellar Nasdaq debut that valued the British chip designer at $65 billion. The stock fell 4.5% to end at $60.75, after trading as high as $69 earlier in the session. The Nasdaq (.IXIC) was down 1.6% and the S&P 500 (.SPX) fell 1.2%, while an index of semiconductors (.SOX) sank 3%. Analysts said further trading volatility in Arm may be seen if the company draws more interest from AI-focused retail investors.

Persons: Rene Haas, Brendan McDermid, chipmakers, Arm's, Randy Frederick, Charles Schwab, Rick Meckler, Sophie Lund, Yates, Hargreaves Lansdown, Financials, Michael Ashley Schulman, Needham, Manya Saini, Caroline Valetkevitch, Saqib Iqbal Ahmed, Niket Nishant, Arun Koyyur, Grant McCool Organizations: Nasdaq, REUTERS, Arm Holdings, Major U.S, Cherry Lane Investments, Analysts, Graphics Arm, Running, Capital Advisors, Nvidia, Reuters Graphics, Thomson Locations: New York, U.S, British, Austin , Texas, New Vernon , New Jersey, Bengaluru

Prime Minister Justin Trudeau said on Thursday he had invited the heads of Canada's five largest grocery chains, including Sobeys (EMPa.TO), Metro (MRU.TO) and Loblaw (L.TO), to Ottawa next week to discuss how they planned to control sky-rocketing food prices. Trudeau's move comes when governments across the globe, especially in Europe, have expressed concern over soaring food prices as they seek to address a cost-of-living crisis that has intensified after the pandemic subsided and since the Russia-Ukraine war began. However, after a similar move from the French government in June, analysts were skeptical about Trudeau's warning. They argued it was a "political" tactic and might be ineffective in lowering lingering food inflation. "Both PM Justin Trudeau and François-Philippe Champagne (Canada's industry minister) spoke tough about this topic and it is difficult to envision what teeth they have to hold grocers accountable," said Ben Jang, portfolio manager at Nikola Wealth.

Persons: Justin Trudeau, Trudeau's, François, Philippe Champagne, Ben Jang, Michael Ashley Schulman, Allan Small, Granth Vanaik, Pooja Desai Organizations: Metro, Loblaw, Nikola Wealth, Running, Capital Advisors, iA, Wealth, Carrefour, Lipton, Nestle, PepsiCo, Unilever, Thomson Locations: Ottawa, Europe, Russia, Ukraine, Bengaluru

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

☆ Two Musicals, One Lonesome World
▼ + stars: | 2023-08-21 | by ( Laura Collins-Hughes | ) www.nytimes.com time to read: +1 min

There is little to be gained from getting overly attached to source material. When a story told first in one form is adapted into another, it becomes a different creature — in the details and sometimes the broad outlines, too. The book is a quiet, gentle thing, and it takes its time, layering in the details of Addie and Louis’s pasts and presents. Each has been lonely since long before their spouses died: his marriage marred by a scandalous affair, hers numbed by the death of a child. When Addie’s young grandson, Jamie, comes to stay with her, he’s lonely at first, too, and scared of the dark.

Persons: Kent Haruf’s, Addie, Louis, gingerly, Addie’s, Jamie, Emily Mann, Lucy Simon, Carmel Dean, Susan Birkenhead, Susan H, Schulman, Lauren Ward, Stephen Bogardus Organizations: Berkshire, Broadway Locations: Stockbridge , Mass, “

☆ Dan Schulman Took PayPal to New Heights. He’s Having a Bumpy Landing.
▼ + stars: | 2023-08-19 | by ( Peter Rudegeair | Angel Au-Yeung | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/c-suite/dan-schulman-took-paypal-to-new-heights-hes-having-a-bumpy-landing-ee0089cf

Persons: Dow Jones, schulman Organizations: paypal

☆ Cava CEO on cautious H2 outlook: Mindful of headwinds facing the consumer
▼ + stars: | 2023-08-16 | 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 EmailCava CEO on cautious H2 outlook: Mindful of headwinds facing the consumerCava CEO Brett Schulman joins 'Squawk on the Street' to discuss what drove the company's strong quarterly earnings results, why he is more cautious about the second half, and more.

Persons: Brett Schulman

☆ PayPal would slot well in a different wallet
▼ + stars: | 2023-08-15 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $70 billion company’s struggles, and the incoming chief’s credentials, set the stage for a transaction of some sort. He also spearheaded its $12 billion purchase of marketing service Mailchimp in 2021, which could augur a deal. And an operation like PayPal’s could help CEO Mark Zuckerberg challenge potential cage-match opponent Elon Musk and his super-app ambitions at X, formerly known as Twitter. Given PayPal’s massive slump, Chriss will be under pressure to restore the luster, or to slot it into another company’s wallet. In 2021, he led the company’s $12 billion acquisition of Mailchimp.

Persons: Alex Chriss, Dan Schulman, Mark Zuckerberg, Elon Musk, Lina Khan, Fiserv, Frank Bisignano, Peter Thiel, Sexier, Chriss, Schulman, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, PayPal, Intuit, JPMorgan, Citigroup, Facebook, U.S . Federal Trade Commission, Visa, Mastercard, PayPal Mafia, Mailchimp, Thomson

☆ Cava shares surge as Mediterranean restaurant chain swings to a profit in first report since IPO
▼ + stars: | 2023-08-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. The Mediterranean restaurant company has a market value of $5.27 billion, as of Tuesday's close. However, Tolivar also said that same-store sales growth has moderated in recent weeks. Cava's menu prices were up nearly 8% compared with the year-ago period, though executives said the restaurant chain has no plans to raise prices further. Looking ahead to 2023, Cava expects to report same-store sales growth for the full year of between 13% and 15%.

Persons: Cava, Tricia Tolivar, Tolivar, Sweetgreen, Brett Schulman Organizations: New York Stock Exchange, CNBC Locations: Cava, New York City

☆ PayPal taps Intuit exec Alex Chriss as its new CEO
▼ + stars: | 2023-08-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Alex Chriss will become the new CEO of PayPal on September 27. Current CEO Dan Schulman announced in February he would retire at the end of 2023. Chriss will come from Intuit, where he is the EVP of small business and self-employed group. Alex Chriss, the executive vice president of small business and self-employed group at Intuit, has been tapped to lead PayPal, the firm announced Monday. The move comes as current PayPal CEO Dan Schulman announced on February 9 that he will retire at the end of the year.

Persons: Alex Chriss, Dan Schulman, Chriss, Schulman, Elliott Management, Intuit's, Alex, John Donahoe Organizations: PayPal, Intuit, Morning

[1/2] FILE PHOTO: The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. "We believe (Chriss's) experience sounds highly relevant to PayPal as it reemphasizes focus on small merchants and launches PayPal Complete Payments," William Blair analysts wrote in a note. PayPal Complete Payments is a payments processing solution for small and medium-sized businesses. According to Wolfe Research, his biggest accomplishment was the company's $12-billion acquisition and integration of Mailchimp in 2021. Outgoing CEO Schulman will remain on the board of the company until its next annual meeting of stockholders in May, PayPal said.

Persons: Thomas White, Alex Chriss, Dan Schulman, William Blair, Wolfe, Darrin Peller, Chriss, Schulman, Niket, Pooja Desai Organizations: PayPal, REUTERS, PayPal Holdings, Intuit, eBay, Intuit's, Wolfe Research, Reuters, Thomson Locations: San Jose , California, Bengaluru

☆ Intuit's Alex Chriss named new PayPal CEO
▼ + stars: | 2023-08-14 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

PayPal 's new CEO will be Alex Chriss, the executive who runs the small business and self-employed group at Intuit, members of PayPal's board announced Monday. Chriss will take over for PayPal's longtime CEO Dan Schulman beginning Sept. 27. PayPal's board said Chriss was chosen for the role out of a pool of nine candidates. The board members said the firm had no role in the search. Schulman became PayPal's CEO after the split from eBay in 2015, and he notified the company of his decision to retire at the end of December last year.

Persons: Alex Chriss, Chriss, Dan Schulman, Schulman, Dan, PayPal's, Elliott Organizations: PayPal, Intuit, Elliott Management, eBay

Moscow's actions have deprived many foreign investors of the ability to trade in Russian securities, including depositary receipts. Investors are worried about future copycat actions by other governments who might look to reduce foreign influence over their leading companies. Depositary receipts, or DRs, are certificates issued by a bank representing shares in a foreign company traded on a local stock exchange. But events in Russia have forced many investors to write down the value of depositary receipts of Russian companies to zero, given their inability to trade them. CONSEQUENCESLoss of confidence in DRs could drain needed foreign capital from firms in emerging economies, for instance.

Persons: Dado Ruvic, Peter C, Earle, Christopher Day, Michael Ashley Schulman, Goldman Sachs, III, Detsky Mir, Goldman, Otkrytie, Schulman, Grzegorz Drozdz, Malcolm Dorson, Sinead Cruise, Carolina Mandl, David Gregorio Our Organizations: REUTERS, Global, American Institute for Economic Research, Reuters, Citigroup, Companies, Citi ., Reuters Graphics, DR, Investors, Doliver Advisors, Running, Capital Advisors, Conotoxia, Russian, Thomson Locations: Moscow, Ukraine, Brazil, China, Russia, GDR, GDRs, United States, Britain, London, Carolina, New York

☆ US investors flag retaliation risks after Biden's China tech curbs
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +4 min

But several portfolio managers said the bigger worry was whether China would strike back, as it has in the past. "It is naïve to think that there won't be some type of retaliation from China," said Tom Plumb, CEO of mutual fund Plumb Funds. China could restrict exports of rare earths used in consumer electronics, electric vehicles, and other components, or target other U.S. technology companies, Plumb said. SELF-SUFFICIENCYChina hawks in Washington say American investors have transferred capital and valuable know-how to Chinese technology companies that could help advance Beijing's military capabilities. Phillip Wool, a co-portfolio manager of Rayliant Quantamental China Equity ETF, said U.S.-China tensions were causing investors to miss out on China growth.

Persons: Florence Lo, Joe Biden's, Biden, Rick Meckler, Tom Plumb, Plumb, Michael Ashley Schulman, Phillip Wool, Shashwat Chauhan, Amruta, Chibuike Oguh, Laura Matthews, Herbert Lash, Davide Barbuscia, Michelle Price, Grant McCool Organizations: REUTERS, Cherry Lane Investments, China Exchange, Wall, Micron Technology, U.S, Funds, Reuters, Running, Capital Advisors, China Equity, Thomson Locations: China, U.S, Beijing, New Jersey, Washington, Rayliant

☆ PayPal is diving deeper into crypto by launching its own stablecoin—what investors should know
▼ + stars: | 2023-08-10 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

PayPal has added a new cryptocurrency to its roster: PayPal USD (PYUSD). On Monday, the online payments service became the first major U.S. financial company to launch its own U.S. dollar-backed stablecoin. PayPal USD is "100% backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents," according to a Monday press release. Additionally, PayPal's stablecoin is redeemable 1:1 for U.S. dollars, which means one PayPal USD can be redeemed for one U.S. dollar and vice versa. Notably, Paxos was ordered to stop issuing Binance's dollar-pegged stablecoin, BUSD, by the New York State Department of Financial Services in February.

Persons: PYUSD, Paxos, PayPal's, Dan Schulman Organizations: PayPal, U.S ., U.S, Paxos Trust Company, New York State Department of Financial Services

☆ PayPal launches first dollar-backed stablecoin from a major U.S. financial institution
▼ + stars: | 2023-08-07 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

PayPal on Monday launched a U.S. dollar-backed stablecoin to help facilitate payments as its latest addition to its suite of crypto services. The new asset, called PayPal USD (PYUSD), was designed to address the "emerging potential" to "transform payments in web3 and digitally native environments." PayPal said the stablecoin's function is to reduce friction for in-experience payments in virtual settings and allowing direct flows to developers. PayPal USD is issued by Paxos, which also previously issued the dollar-pegged, Binance-branded stablecoin BUSD. Paxos was ordered by the New York State Department of Financial Services in February to stop issuing BUSD, which marked the beginning of this year's decline in the stablecoin market cap.

Persons: Dan Schulman, Paxos, they're Organizations: PayPal, Monday, U.S ., Paxos, New York State Department of Financial Services Locations: U.S, web3

☆ PayPal bets on crypto's future with US-dollar-backed stablecoin PYUSD
▼ + stars: | 2023-08-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

The stablecoin, PayPal USD, is fully backed by the US dollar and is “designed to reduce friction” for payments within virtual spaces and provide faster, cheaper transfers of money across borders. But PayPal is betting on a future in which digital currency is more mainstream and merchants may request payment in stablecoins to avoid credit card processing fees. In May 2022, the “algorithmic” stablecoin TerraUSD collapsed when the crypto token backing it, Luna, collapsed. The value of PayPal USD, or PYUSD, doesn’t rely on a complex algorithm the way Terra did. In other words: every PayPal USD should be worth $1.00, no matter what.

Persons: ”, Dan Schulman, Stablecoins, Stablecoins aren’t, TerraUSD, Luna, Kwon, Charles Cascarilla Organizations: New, New York CNN, PayPal, Securities, Exchange Commission, Paxos Trust Locations: New York, cryptocurrencies, Venmo, Terra

☆ PayPal stock drops as weak margins fan growth fears
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Shares of PayPal Holdings (PYPL.O) fell more than 8% in premarket trading on Thursday as weak second-quarter margins at the digital payments firm overshadowed a strong forecast. The company said higher provisions at its credit portfolio hit margins and that it had tightened underwriting standards on loans. The San Jose, California-based company reported second-quarter adjusted operating margins of 21.4% after markets closed on Wednesday. Profit margins at PayPal have come under scrutiny in recent months. While its low-margin businesses like Braintree have shown strong growth, higher-margin business like the PayPal-branded checkout platform have shown slower growth.

Persons: Dado Ruvic, Edward Jones, Logan Purk, Dan Schulman, Schulman, J.P, Morgan, Tien, tsin Huang, Niket, Nivedita Organizations: PayPal, REUTERS, PayPal Holdings, Thomson Locations: San Jose , California, Braintree, Bengaluru

☆ PayPal pays price for prolonged CEO hunt
▼ + stars: | 2023-08-03 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

NEW YORK, Aug 3 (Reuters Breakingviews) - The price of PayPal’s (PYPL.O) CEO hunt just grew by some $9 billion. An e-commerce boom during the pandemic lifted PayPal’s stock price to a record high of about $308 in mid-2021. PayPal fell short of the 22% operating margin forecast it told investors it would deliver in May, and it remains below its pre-pandemic 23% rate. The company’s shares were down 11% around midday New York time on Aug. 3. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dan Schulman, It’s, Gabrielle Rabinovitch, Russell Reynolds, Schulman, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Nasdaq, PayPal, Apple Pay, Braintree, Thomson Locations: New York

"When we think about the back half, in Q3, we'll still see some pressure on transaction margin performance. PayPal's adjusted operating margin for the quarter came in at 21.4%, missing its forecast of 22%. PayPal's total payment volume surged 11% in the second quarter to $376.5 billion, benefiting from resilient consumer spending trends. PayPal forecast adjusted profit per share for the current quarter to be in a range of $1.22 and $1.24, above analysts' estimates of $1.22. PayPal posted revenue of $7.3 billion in the second quarter, compared with $6.8 billion last year.

Persons: Dado Ruvic, we'll, Gabrielle Rabinovitch, Dan Schulman, Kevin Kennedy, Schulman, Sri Hari, Manya, Maju Samuel Organizations: PayPal, REUTERS, PayPal Holdings, Apple, Reuters, Banking, Sri, Manya Saini, Thomson Locations: Bengaluru

☆ Shopify forecasts solid revenue growth on higher prices, more signups
▼ + stars: | 2023-08-02 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. In the third quarter, the company expects revenue growth at "low-twenties" percentage and "mid-twenties" when adjusted for changes related to the divestiture of its logistics business. Following the results, Shopify's U.S.-listed shares, which have surged nearly 80% so far this year, added 7% before settling marginally lower in extended trading. In the second quarter, total revenue grew 31% to $1.69 billion and beat analysts' average estimate of $1.62 billion. "This could be a turnaround quarter for Shopify," said Michael Schulman, chief investment officer at Running Point Capital Advisors.

Persons: Chris Wattie, We're, Harley Finkelstein, Shopify, Michael Schulman, Yuvraj Malik, Akshita, Pooja Desai, Arun Koyyur Organizations: REUTERS, Merchants, Running, Capital Advisors, Thomson Locations: Ottawa , Ontario, Canada, Shopify, U.S, Bengaluru

☆ Instant View: Fitch downgrades U.S. foreign currency ratings to 'AA+' from 'AAA'
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +9 min

The downgrade follows a debt ceiling agreement in June that came after months of political brinkmanship and ultimately lifted the government's $31.4 trillion debt ceiling. Unless they think that fiscal trajectory suggests risk of a default, which I don't think they say, I don't understand the reason for this." “So I don't think the reaction, it should surprise anyone in the markets because we've been through this before. JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET WEALTH ADVISORS IN PALM BEACH, FLORIDA"I'm surprised, but I'm not surprised." "It's really the just the troubled negotiations that take place every time we have a debt ceiling or budget negotiation.

Persons: Thomas White, Fitch, STEVEN RICCHIUTO, ” WENDY EDELBERG, I'm, JASON WARE, Fiitch, MICHAEL O’ROURKE, “, ” BERNARD BAUMOHL, Poor’s, ” MICHAEL SCHULMAN, ANGELO KOURKAFAS, EDWARD JONES, ”, MICHAEL K, FARR, That’s, ” KEITH LERNER, ” “ It’s, ERIC WINOGRAD, ALLIANCEBERNSTEIN, QUINCY KROSBY, doesn't, JACK ABLIN, it's Organizations: REUTERS, United, AAA, USA, ., OF, HAMILTON PROJECT, BROOKINGS, WASHINGTON D.C, ALBION, Fitch, AA, PRINCETON, NEW, ST LOUIS, MILLER & WASHINGTON LLC, ADVISORY, Global Finance, Markets, Thomson Locations: United States, U.S, MIZUHO, WASHINGTON, CITY , UTAH, STAMFORD , CONNECTICUT, NEW JERSEY, ATLANTA, CHARLOTTE, NORTH CAROLINA, BEACH , FLORIDA

They are a key source of financing for some fintech lenders, which have fewer funding options than banks. As the end of pandemic stimulus and rising inflation led delinquency rates to normalize, investors shunned the fintech ABS market late last year. Fintechs like Upstart (UPST.O), Affirm (AFRM.O) and OneMain Financial (OMF.N) say they are boosting credit quality, in another example of how lenders have been pulling back amid uncertainty over the economic outlook. Still, analysts say it is a sign the fintech ABS market is recovering. For fintech loans to borrowers with weighted average credit scores between 660 and 710, annualized net losses rose by 1.88% month-over-month to 16.61%.

Persons: Sanjay Datta, Datta, Max Levchin, Doug Schulman, OneMain, Finsight, Robert Wildhack, Kroll, Hannah Lang, Matt Tracy, Josie Kao Organizations: Wall Street, OneMain, AAA, Autonomous Research, Kroll Bond Rating Agency, Thomson Locations: Washington

☆ University of Vermont fires hockey coach after investigation into ‘inappropriate text messages’ with a student
▼ + stars: | 2023-07-19 | by ( Kevin Dotson | ) edition.cnn.com time to read: +2 min

CNN —The University of Vermont fired its men’s hockey head coach, Todd Woodcroft, on Tuesday after the university conducted an internal investigation of “inappropriate text messages with a UVM student on multiple occasions that failed to maintain professional boundaries,” according to a statement released by Vermont Director of Athletics Jeff Schulman. Schulman appointed assistant coach Steve Wiedler as interim head coach. “After reviewing the findings of an investigation conducted by UVM’s Office of Affirmative Action and Equal Opportunity that was completed this week, it is clear that Coach Woodcroft failed to meet those expectations. “The specific conduct leading to the investigation involved inappropriate text messages with a UVM student on multiple occasions that failed to maintain professional boundaries,” Schulman’s statement continued. “Earlier today, I met with the Men’s Hockey team to inform them of my decision and to introduce Steve Wiedler as interim head coach for the 2023-2024 season.

Persons: Todd Woodcroft, Jeff Schulman, Schulman, Steve Wiedler, ” Schulman, “, Woodcroft, Wiedler’s, ”, Andrew Miltenberg, ” Miltenberg, ” Woodcroft Organizations: CNN, The University of Vermont, “, University of Vermont Athletic Department, UVM’s, Men’s Hockey Locations: Vermont

July 11 (Reuters) - Amazon.com (AMZN.O) hopes to tempt U.S. shoppers on Tuesday to open inflation-thinned wallets by offering deeper discounts on a wide range of goods and services during this year's "Prime Day" 48-hour shopping event, including its first-ever travel discounts. A year of inflation has lifted mortgage rates, rents and food prices for consumers ahead of Prime Day, which falls on July 11-12 this year. CFRA Research analyst Arun Sundaram said Amazon's U.S. Prime Day discounts this year are mostly deeper than in previous years. Amazon Prime members can also save up to 40% on items such as Sherpani bags and ZOA Energy drinks, by checking out using "Buy with Prime," directly from Amazon's third-party merchants. Amazon plans yet another Prime sales event this year, according to screenshots of its seller notification platform seen by Reuters.

Persons: Arun Sundaram, Michael Ashley Schulman, Schulman, Brian Gleason, Sundaram, Granth Vanaik, Ananya Mariam Rajesh, Arriana McLymore, David Gregorio Our Organizations: CFRA, Sony, Bank of America, Amazon, Energy, Amazon's, Adobe, Running, Capital Advisors, Exchange, Priceline's, Express, Walmart, Reuters, Thomson Locations: United States, Bengaluru, New York City

[1/2] The Levi Strauss & Co. label is seen on clothes in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Shares of the company fell about 6% in extended trading, as it joined peer American Eagle Outfitters (AEO.N) in predicting a weak outlook for consumer spending. Levi’s net revenues for the second quarter that ended May 28 declined by 9%, its steepest quarterly drop since the first quarter of 2021, according to Refinitiv data. The annual reported net revenue is expected to increase 1.5% to 2.5% from a year earlier, the apparel maker said, narrowing its previous forecast range of 1.5% to 3%. The apparel maker posted a net loss of $1.6 million for the second quarter, compared with a net income of $49.7 million a year earlier.

Persons: Levi Strauss, Andrew Kelly, Levi's, Chip Bergh, Bergh, Michael Ashley Schulman, Granth, Kate Masters, Shweta Agarwal, Muralikumar Organizations: Woodbury, REUTERS, American Eagle Outfitters, Nordstrom, Revenue, Running, Capital Advisors, Thomson Locations: Central Valley , New York, U.S, North America, Bergh, Levi's U.S, Europe, Americas, Bengaluru, New York

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