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New York CNN —This is the summer of fast food value meal wars, and Taco Bell isn’t sitting back. The chain announced Thursday that it’s entering the battle with one of its biggest deals ever. “We believe that fast food should be a luxury that every one can afford everyday,” said Taylor Montgomery, Taco Bell’s chief marketing officer. He added that its deal offers “full-sized favorites” compared to some of its rivals’ deals that have smaller portions. Like its rivals, Yum has been vocal that some of its problems stem from customers spending less on fast food.
Persons: Taco Bell isn’t, Burger King, , Taylor Montgomery, Taco, , Montgomery, Yum Organizations: New, New York CNN, Taco, Taco Bell, Taco Bell’s, CNN Locations: New York
Gigi is a startup that aims to make it easier for brands to buy and measure streaming video ads with Amazon. The firm also provides advertisers with granular metrics like the incremental reach of a TV ad campaign, Epstein said. AdvertisementAs third-party cookies go away, Gigi's pitch plays up brands' first-party data to create more effective Amazon ads. For example, a Shopify merchant can analyze data from their Shopify website with Amazon data to find audiences to target with ads. Gigi wants to work with agenciesThe bulk of Amazon ads are bought using traditional shopper marketing dollars, but Epstein said that his firm is squarely focusing on TV ad budgets.
Persons: , Gigi, Adam Epstein, Epstein, Gigi Gigi Gigi, Omnicom, Capital, adtech execs, Mike Baker, Rosco Hill Organizations: Service, Amazon, Business, Amazon's, Wall, Amazon Marketing, AMC, Ascential, Ascential's, Golden Ventures, AperiamVentures Locations: Rosco
Warren Buffett didn't just rely on financials and listings to pick winning stocks in the early days. He spent weeks counting railcars, went to see "Mary Poppins," and tested the American Express brand. "Buffett's Early Investments" outlines how the investor vetted bosses and hunted down shares to buy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's a common perception that Warren Buffett struck gold as a young investor by poring over long lists of stocks and scooping up the cheapest ones.
Persons: Warren Buffett, Mary Poppins, , Brett Gardner Organizations: American Express, Service, Oracle, Business
When I lost my job, I felt expendable and like I didn't have any agency or ownership over my career. DON'T MISS: The ultimate guide to earning passive income online I'm so glad that I bet on myself. Here are three steps I took to turn my side hustle into a lucrative, full-time business. I hired a coach that specialized in marketing and TikTok, and started posting a minimum of two videos a day. In 2022, I started a group coaching offering after I had barely sold out my one-on-one coaching slots.
Persons: Wolfe, aren't, I've Organizations: Brands
Read previewWarning: spoilers ahead for "Perfect Match" season two. "Perfect Match" season two may have ended last week, but the drama is just getting started. AdvertisementMultiple "Perfect Match" season 2 cast members have spoken out about the way the series was edited. AdvertisementChristine and Brittan also said Kaz tried to match with Brittan immediately after coupling up with Christine at the mixer but was rejected. AdvertisementThis is not the first time reality show drama has continued past a series finale, and even the "Perfect Match" season one cast, which was less scandalous than season two, had a few public arguments.
Persons: , Christine Obanor, Nigel Jones, Harry Jowsey, Harry, costars, Christine, Kaz Bishop, Micah Lussier, Alara Taneri, Nigel, Shane Lopes, Chris Hahn, Brittan Byrd, Brittan, Dominique Defoe, Stevan Ditter, Bryton Constantin, Chris, Stevan, Kaz, Melinda, Dominique, Bryton, Dominique's, Brittan's, Dom Gabriel, Tolú Ekundare, Micah Stevan Organizations: Service, Netflix, Business, Xanthi Perdikomatis, Kinetic Locations: Xanthi
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Sam's Club plans to take on Costco's Kirkland SignaturePrivate labels have gained mainstream popularity as price conscious Americans notice the much improved store brands. It is today a $220 billion industry. Costco which built its private label, Kirkland Signature, over the course of two decades is one of the biggest. And club competitor Sam's Club has taken notice by putting a strong emphasis on its private label, Member's Mark.
Persons: Costco's, Kirkland, Mark Organizations: Costco's Kirkland, Costco, Sam's
The iconic 23-ounce cans of Arizona Iced Tea still sell for 99 cents after 32 years. Arizona founder Don Vultaggio told Today he doesn't want to raise prices on consumers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDon Vultaggio, the cofounder and CEO of the company behind Arizona Iced Tea, still sells his product for the same price as when it launched 32 years ago — 99 cents. Arizona's signature big cans of iced tea were a quick success, and Vultaggio still runs the company to this day with the help of his sons.
Persons: Don Vultaggio, , Vultaggio Organizations: Arizona Iced, Service, Arizona, Business Locations: Arizona, New York
Much of the growth, from a forecast 21% market share this year, is expected to come outside of China. The rapid expansion of Chinese automakers is a growing concern for legacy automakers and politicians globally. In North America, Chinese automakers are forecast to only achieve a 3% market share, largely in Mexico, where one in five vehicles are expected to be Chinese brands by 2030. In most other major regions of the world, AlixPartners reports that the share of Chinese automakers is expected to exponentially grow. Chinese brands in China also are expected to grow from 59% to 72% in market share, according to AlixPartners.
Persons: AlixPartners, Mark Wakefield Organizations: Auto Guangzhou, China Import, Export, Visual China, Getty Images, AlixPartners, General Motors, Nurphoto, Getty Locations: Guangzhou, Guangdong Province of China, China, Japan, North America, U.S, AlixPartners, Mexico, Central, South America, Southeast Asia, East, Africa, Bangkok, Nonthaburi Province, Thailand
Ozak Tekstil told CNN it had terminated the workers “as a last resort” when they declined an invitation to return to work. If it refused, “we will be forced to take the appropriate next steps to uphold workers’ rights,” Levi’s wrote. It did not reinstate all of the fired workers. Inside the Ozak Tekstil factory in Sanliurfa, Turkey, in December 2023. The Ozak Tekstil factory in Sanliurfa, Turkey, in December 2023.
Persons: , Levi’s, LEVI, Ozak Tekstil, Zara, Hugo Boss, Guess, Ralph Lauren, Seher Gulel, Gulel, , Sen, Tekstil, Levi Strauss, Justin Sullivan, ” Gulel, enshrines, Sen didn’t, unionize, ” Ozak Tekstil, ” Levi’s, Scott Nova, ” Nova, “ Ozak, Carolin Westermann, Funda Bakis, CNN Bakis, Bakis, ” Bakis, Tanem Zaman, Eyad Kourdi, Brice Laine Organizations: Istanbul CNN —, ’ Association, Worker Rights Consortium, CNN, Birtek, WRC, Ozak Locations: Istanbul, Turkey, Turkey’s Sanliurfa, San Francisco , California, Sanliurfa
Melissa & Doug had a situation. For decades, the American toy brand had leaned heavily on factories in China to make its products — wooden puzzles, stuffed animals, play mats. Melissa & Doug was eager to shift some production to other countries. The Melissa & Doug executive was surprised to see that the plant could make high-quality wooden toys, at prices comparable to those in China. Late last year, Sunlord completed its first batch of products for Melissa & Doug, a modest order of about 10,000 items, and now is cranking out 25,000 per month.
Persons: Melissa, Doug, Donald J, Trump, Biden, Sunlord Locations: China, Washington, Beijing, Greater Noida, New Delhi
Campbell Soup 's acquisition of Rao's parent Sovos Brands is a key part of why JPMorgan is now bullish on the Camden, New Jersey-based food company for the first time in 15 years. Analyst Ken Goldman upgraded Campbell to overweight from neutral, a rating the bank hasn't had on the stock since 2009. The Rao's brand alone brought in nearly $775 million in annual net sales in 2023, driving Sovos sales above $1 billion last year. Rao's organic net sales climbed about 37% in 2023 from 2022, boosting the acquired business's growth rate to 25%. CPB .SPX YTD mountain Campbell Soup vs. S & P 500, year to date Despite the excitement around Rao's, the JPMorgan call comes amid a period of underperformance for Campbell.
Persons: Campbell, Ken Goldman, hasn't, Goldman, Sovos, Michael Angelo's, underperformance Organizations: JPMorgan, Wall, CPB Locations: Camden , New Jersey, noosa
LVMH, led by Arnault, has grown significantly in China since entering the market in 1992. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChinese customers are such big fans of luxury brands like Louis Vuitton that they reacted strongly to Bernard Arnault visiting their country. A few of them asked him to bless their babies, he told Bloomberg in an interview. This story is available exclusively to Business Insider subscribers.
Persons: Bernard Arnault's, Arnault, , Louis Vuitton, Bernard Arnault, LVMH Organizations: Service, Bloomberg, Business Locations: China, Beijing, Shanghai
Led by Quentin Koffey, Politan has nominated two further directors to the company's board, and says that without their election, management will continue to operate without oversight. "This is shareholders' last chance at meaningful change," Politan wrote in a letter to Masimo shareholders on Wednesday, laying out its case to investors ahead of the meeting. But governance improvements have fallen short of what shareholders deserve, Koffey wrote in the letter, noting that Masimo's board "does not review, approve or see a budget." Masimo took aggressive steps to fend off Politan, introducing bylaws to force the firm to reveal its shareholder list. "For more than two years, Politan has navigated unprecedented impediments thrown up by Masimo's board," the activist said.
Persons: MASI, Joe Kiani, Manjunath Kiran, Quentin Koffey, Politan, Masimo, Koffey, Michelle Brennan, Darlene Solomon, Bill Jellison, Stryker, it's, Kiani, Wilkins, Denon, Mario Tama, haven't, Russell, management's Organizations: Getty, Politan Capital Management, CNBC, Apple Watch, Sound United, Bowers, Sound, Shareholders Locations: Bangalore, Jan, Delaware, Caribbean, Irvine , California
Rivian stock surged 37% after it secured a $5 billion deal with Volkswagen. The companies will form a joint-venture to develop next-gen vehicle software and electrical architecture. AdvertisementRivian stock soared 37% on Wednesday after it struck a $5 billion deal with Volkswagen. The two companies will form a joint-venture to collaborate on next-generation vehicle software and electrical architecture, which will be utilized in cars from both brands. As part of the deal, Volkswagen will invest an initial $1 billion in Rivian via a convertible note that will convert into Rivian stock later this year, assuming the companies receive regulatory approval for the deal.
Persons: , RJ Scaringe, Dan Ives, Ives Organizations: Volkswagen, Service, JV, Volkswagen Group's, Rivian Locations: Rivian
Read previewThree leaders of digital publisher Jukin Media, known for making videos like Pizza Rat go viral, have teamed up again, this time on a creator-driven travel media company called Lost iN. Brothers Jonathan and Mike Skogmo, and Anton Reut, built Jukin Media before it was sold in 2021 to Trusted Media Brands, parent of Reader's Digest. Skogmo acknowledged that his idea to start a media company raised some eyebrows. It's working with Rob Levy of Digital Media Capital Advisors to acquire other travel-related companies in areas like consumer products and media. Skogmo said he was inspired by media companies like Epic Gardening and Betches that have built fandoms and make money in various ways.
Persons: , BDMI, Chris Williams, George Strompolos, Erik Huberman, David Alpert, Kevin Gould, Richard Wolbert, Matthew Rutler, Jonathan, Mike Skogmo, Anton Reut, Jonathan Skogmo, Condé, Skogmo, Rob Levy, It's Organizations: Service, Jukin Media, MaC Venture Capital, Pitbull Ventures, Hawke Media, Kombo Ventures, Business, Trusted Media Brands, Reader's, Digital Media Capital Advisors Locations: Croatia
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
CNBC's Jim Cramer on Wednesday said most consumers are not necessarily hurting for cash, but are sick of high prices and on the hunt for bargains. "Let's suspend the notion that the consumer's totally strapped for cash, that's wrong," he said. To Cramer, consumers are flocking to bargain outfits like Walmart and Costco , and he pointed out that the latter's low-cost signature brands are especially appealing. He named TJX , Ollie's , Ross Stores and Burlington Stores , all up year-to-date at 17.83%, 29.54%, 7.48% and 23.05% respectively. "We know apparel inflation has been sticky in the consumer price index, but these four off-price chains are cutting the price of apparel aggressively," he said.
Persons: CNBC's Jim Cramer, Let's, Cramer, TJX Organizations: Walmart, Costco, CVS, Walgreens, Ross Stores, Burlington Stores Locations: Ollie's
I tried every flavor of Culture Pop probiotic soda I could find and ranked them from worst to best. Of all the flavors I tried, the watermelon-and-lime Culture Pop was my favorite. AdvertisementSupermarket shelves across the United States are filling up with prebiotic and probiotic sodas that claim to be good for your gut. Popular brands like Poppi and Olipop say their sodas contain prebiotics designed to help good bacteria grow. Culture Pop, on the other hand, is a probiotic drink that says it contains the live bacteria other brands help to cultivate.
Persons: seltzer, Organizations: Service, Business Locations: United States
BofA called out the importance of Amazon's retail margin because it has generated more estimated outperformance than its cloud business Amazon Web Services (AWS). Add on same-day delivery, Jim asked, rhetorically, "Why would you go to the store on the way home when it's at your home." Fifty-one percent of respondents, a survey record, said they opted for Amazon's same-day delivery option. Based on these results, Evercore believes Prime same-day delivery is a "multiplier to purchase frequency and overall spend." The latest Wall Street analysis and thoughts from Jim support the idea of further room for Amazon stock to run higher.
Persons: BofA, Amazon's, Andy Jassy, Jassy, Jim, Evercore, Jim Cramer's, Jim Cramer, Michael M Organizations: U.S, Bank of America, United Parcel Service, FedEx, Web Services, Amazon, Walgreens, Logistics, Adobe Analytics, Club, CNBC, Santiago, Getty Locations: U.S, New York City
Rivian 's latest partnership with Volkswagen could prove a major boon for investors and the broader auto industry, according to some Wall Street analysts. As part of the plan, Volkswagen will inject $1 billion, followed by an additional $4 billion investment planned by 2026. RIVN 1D mountain Shares pop on Volkswagen venture But Wall Street views the deal as a potential turnaround opportunity that can help limit execution risks and uncertainties surrounding funding that have spooked investors in recent months. Big wins for the auto industry While the venture justifies Rivian's strategy, some on Wall Street anticipate potential big wins for the broader auto industry. He added that the venture also highlights the need for proprietary electronic control units and software.
Persons: Rivian, John Murphy, Ryan Brinkman, Dan Levy, Levy, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Tesla, Piper Sandler, Alexander Potter, America's Murphy Organizations: Volkswagen, Bank of America, JPMorgan, Barclays, Bank, Lucid Group Locations: China
But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.
Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain
FedEx — Shares of the company moved more than 14% higher after topping Wall Street's fiscal fourth-quarter expectations . The shipping giant earned $5.41 per share, after adjustments, on $22.11 billion in revenue. Analysts polled by LSEG were expecting earnings of $5.35 per share and revenue of $22.07 billion. Aptiv — Shares of the automotive technology company plunged 10% following Piper Sandler's downgrade of the stock to underweight from neutral . Paychex posted adjusted earnings of $1.12 per share, which is above the $1.10 earnings per share that analysts polled by LSEG were expecting.
Persons: LSEG, Bosch, Piper, Mills, Paychex, Grindr, Campbell, , Alex Harring, Lisa Kailai Han, Scott Schnipper, Sarah Min, Michelle Fox Organizations: Volkswagen Group, FedEx —, Whirlpool —, Reuters, Rivian, MNC Capital Partners, JPMorgan, Campbell
Read previewEmma Roberts says even Hollywood's nepo babies don't always have an easy path to stardom. On an episode of the "Table for Two" podcast released on June 25, Roberts spoke to host Bruce Bozzi about the public perception of nepo babies, or "nepotism babies." During the podcast episode, Roberts said it's not always true that nepo babies get everything handed to them on a silver platter. Many nepo babies and even their parents — particularly those in Hollywood — have pushed back against the title and its accompanying critiques. AdvertisementIn December, Meg Ryan defended her son , actor Jack Quaid, against "nepo baby" claims during an interview with Glamour.
Persons: , Emma Roberts, Roberts, Bruce Bozzi, you'll, Julia Roberts, Eric Roberts, Johnny Depp's, it's, George Clooney, Clooney's, Nick Clooney, Rosemary Clooney, Meg Ryan, Jack Quaid, Lily Allen, Allen, Alfie Allen, Keith Allen, Bernard Arnault, Mukesh Ambani, Tim Draper's, Draper, Gaither, Anderson Organizations: Service, Business, Nickelodeon, New York Magazine, Reliance Industries, Valley's, Applied, Business Insider Locations: Hollywood, British
One fund has a formula that has enabled it to consistently beat the S & P 500 : the Hennessy Cornerstone Growth Fund. The fund uses a formula-based strategy for investing, according to its portfolio managers Neil Hennessy, Ryan Kelley, and Joshua Wein. "We're trying to combine value with momentum and some growth," Kelley said. Stocks the fund owns Most of the stocks in the outperforming fund aren't actually in tech but in the industrials, consumer, financials and health-care sectors — because of the formula they use. It is the only name which survived in the recent rebalancing to the current batch of 50 stocks, said Wein.
Persons: Neil Hennessy, Ryan Kelley, Joshua Wein, Kelley, Wein, They've, We're, aren't Organizations: Cornerstone Growth Fund, CNBC Pro, Micro Computer, Urban Outfitters Locations: United States
Lara WalshBefore my appointment, my personal stylist, Kalyn, texted me directions to the changing room in the store's contemporary section. Lara WalshThere were also quite a few menswear-inspired work pieces, including jackets, trousers, and shirt dresses. My appointment at Saks felt a little more glamorousMy Saks appointment was at the department store's Fifth Avenue Club. In fact, two of my favorite pieces didn't jump out at me on the hanger and probably weren't things I would've chosen myself. AdvertisementOverall, I think the personal-styling appointments are great for those who want a wardrobe refresh but aren't sure where to start.
Persons: , Nordstrom, Lara Walsh, Kalyn, she'd, didn't, I'd, John, Lara Walsh John, who's, Carrie Bradshaw Organizations: Service, Business, Saks, Avenue Club
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