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☆ Instagram's notes feature is growing at a 'wild pace' and part of its plan to make messaging central to the app's future
▼ + stars: | 2024-06-17 | by ( Shriya Bhattacharya | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Read previewInstagram really wants you to try out "notes" — its status feature that harkens back to the instant messaging days of the internet. Adam Mosseri, the head of Instagram, posted about the feature this month with the prompt: "What are notes about?" Meanwhile, creator Walé Oyerinde loves using the notes feature because it's one of the '"lowest effort high impact" ways to boost regular engagement on the app. AdvertisementInstagram launched the "notes" feature in 2022. She wants the notes feature to be visible to everyone who follows her so she can continue building her personal brand and cultivating a more engaged online community.

Persons: —, Adam Mosseri, Mosseri, Instagram, Ashley Yuki Alexander, Celine Mili, It's, Jyoti Chand, Walé Oyerinde, I've, Milli, Khamyra, Avalon Zborovsky, Fenter, she's Organizations: Service, AIM, Business, Facebook, Meta Locations: Instagram's

☆ His wife had a common skin condition and tried expensive creams for over 20 years. She became 'patient zero' for his personalized skincare company — and had clear skin in a month.
▼ + stars: | 2024-06-17 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +10 min

For 20 years after getting pregnant, Cherry Jia tried everything to fade the dark patches on her face. After giving birth to her son, she had melasma, a fairly common skin discoloration caused by hormonal fluctuations during pregnancy. The treatments they sold for dark spots had no effect on her skin. Jia said Musely's top-selling products treat aging concerns like dark spots, rosacea, and hair thinning. MuselyPart of the boom comes from the desire for products that target specific skin concerns, like dark spots or wrinkles.

Persons: Musely, —, Cherry Jia, she'd, Jack Jia, Cherry, Jack Jia Jia, Marie Jhin, he'd, Jhin, Lori Bush, Kimber Maderazzo, dermatologists, Jia, Jhin . Cherry Jia's, Jack Jia's, Musely Jia, estriol, they've, isn't, it's Organizations: Healthcare, Service, Musely, Jhin, FDA, New York Times Locations: drugstores

☆ Adidas is investigating allegations of embezzlement and kickbacks in China
▼ + stars: | 2024-06-17 | by ( Laura He | Wayne Chang | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Adidas says it has started an investigation into allegations of “compliance violations” in China, a key market for its sportswear. The reported complaint alleged that a senior executive in Greater China who manages Adidas’ marketing budget had embezzled millions of euros and taken huge kickbacks from external advertising and celebrity agencies. Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — contributes 15% of the company’s sales. In mainland China, Adidas is the second largest international sportswear brand behind Nike (NKE). Adidas is well known for playing the “celebrity” card in its marketing in China.

Persons: Hong Kong CNN —, Jiemian, Claudia Lange, ”, Lange, ’, Taiwan —, —, Yang Mi, Yi Yangqianxi Organizations: Hong Kong CNN, Hong Kong CNN — Adidas, Adidas China, CNN, Adidas, Nike Locations: China, Hong Kong, Taiwan, Beijing, Xinjiang

☆ One private equity firm controls more than a dozen of the biggest restaurant chains
▼ + stars: | 2024-06-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

AdvertisementThere's a good chance that just one private equity firm owns one of your favorite restaurant chains. Over the last quarter-century, Roark Capital Group has bought up nearly 20 restaurant brands in the US. Its latest acquisition happened last year when it acquired Subway, which operates the most stores out of any restaurant chain in the US. AdvertisementThe private equity firm also has investments in The Cheesecake Factory, which is publicly traded, as well as midwestern burger chain Culver's. AdvertisementWhile Roark owns a lot of restaurant brands, it's hardly the only private equity player in the industry.

Persons: —, Carl's Jr, Dunkin, Tyler Le, Roark, Jimmy John's, Auntie Anne's, Howard Roark, Ayn, TriArtisan Organizations: Buffalo Wild Wings, Roark Capital Group, Service, Business, Roark Capital, Hooters, TriArtisan Capital, Bay Capital Locations: Subway, Arby's, Carl's, Atlanta, Ayn Rand's, Nestle, Mars

☆ Athlete marketing is booming with the evolution of NIL and creating new career paths
▼ + stars: | 2024-06-17 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

NIL has created career paths for college athletes and brand-deal managers. NIL has also created career paths for college athletes, some of whom are building businesses as influencers and content creators or getting jobs in social media and marketing rather than going pro. It's important for schools that want to be involved in NIL deals to engage in sports marketing and sourcing deals for athletes, he added. Connor Printz, a former Division III basketball player at Claremont McKenna College, has landed over 100 NIL deals. It's not just student-athletes who are benefitingNIL isn't creating more career opportunities only for college athletes.

Persons: —, Caitlin Clark, Clark, Bronny James, Olivia Dunne —, Garrett Yaralian, influencers Dunne, she's, Dunne, Yaralian, TikTok, Sam Hurley, Hurley, Connor Printz, Chase Griffin, Griffin, It's, Drew Glover Organizations: Service, WNBA, Nike, Wall Street, NCAA Division, State, NCAA, —, University of Southern California, Louisiana State University, WME Sports, Brands, University of Texas, Fund, Division III, Claremont McKenna College, University of California, Sports, Texas, OneTeam Partners, University of Georgia Athletic Association, . Venture, Fiat Ventures Locations: Instagram, Austin, Los Angeles

☆ The influencer-marketing strategies that made brands like Adobe and Google Pixel favorites for creators from underrepresented backgrounds to work with
▼ + stars: | 2024-06-17 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

"Influencer marketing is so personal, it's about the creator," Jenkins said. Several industry experts, including creators, have said this is because brands routinely pay creators of color less than their white counterparts on collaborations. AdvertisementSome companies like Pandora, however, have earned reputations among creators of color for fair compensation, prompting them to develop long-term partnerships spanning years. We also give the creator creative latitude whenever we can and let them co-create the concept based on what is authentic to their experience." "We usually know going into a negotiation where it's going to start and where it's going to end up."

Persons: Inclusivity isn't, Nikki Jenkins, She's, it's, Jenkins, Brandon Shi, They've, Google's, Ava Donaldson, Nneya Richards, she's, Donaldson, We're, we're, Pandora, lowballs, Leah Walker, Walker Organizations: Service, Business, Pandora, Adobe, Google, Heritage

☆ TikTok is getting into the murky business of AI-generated influencer ads
▼ + stars: | 2024-06-17 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTikTok is rolling out a tool that will allow brands to use AI-generated avatars of real people in ads on the platform. In a demonstration in the announcement post, the company showcased a reel of AI-generated avatars built from apparent TikTok creators who explain why they'll benefit from an AI tool that uses their likenesses. "If this is something that caught on, I'd be very scared for the future of my business," micro influencer Kristen Bousquet told Business Insider in May. TikTok isn't the only Big Tech platform experimenting with AI-generated avatars.

Persons: —, SelfMade, Kristen Bousquet, TikTok, creatives —, Meta, Tom Brady, Kendall Jenner, YouTuber Organizations: Service, Business, NBA, Big Tech, Facebook, Microsoft, Apple

☆ Americans are still paying more for shoes, luggage and hats after Biden left Trump’s tariffs in place
▼ + stars: | 2024-06-16 | by ( Katie Lobosco | ) edition.cnn.com time to read: +12 min

Courtesy Abby ChowningThe tariffs Biden left in place – which are paid by US importers and not China – hit roughly $300 billion of goods. After Trump’s tariffs hit, some US companies sought new manufacturers in other countries. The Covid-19 pandemic upended the global economy roughly two years after Trump’s trade war began. Several studies show that Trump’s tariffs only marginally contributed to the rise in US inflation experienced after the pandemic and the following supply chain crisis. Trump’s tariffs were meant to get China to address those issues.

Persons: Donald Trump, Trump, Tiffany Zarfas Williams, ”, Zarfas Williams, Joe Biden, –, “ Trump, ” Biden, “, Biden, ’, Abby, China –, Rick Muskat, Jake Muskat, Alena Margolis, Muskat, ” Muskat, Phil Page, Page, Bryan Finch, ” Page, Morgan, Nate Herman, Matt Priest, Priest, Steve Madden, ” Jared Bernstein, we’ve, ” Bernstein, Justin Sullivan, ” Herman, Xi Jinping, Biden “ Organizations: Washington CNN —, China, Trump, Biden, Deer Stags, JCPenney, America, Cap America, American Apparel & Footwear Association, Bureau of Labor Statistics, Footwear Distributors, Retailers of America, Adidas, Columbia, Nike, White House Council, Economic Advisers, China Business, Trade, National Council of Textile Organizations, Port Locations: Lubbock, Texas, China, Ukraine, Missouri, Vietnam, Bangladesh, Port of Oakland, Oakland , California

☆ The ‘New Chinese style’ trend isn’t exactly new, but it’s proving lucrative
▼ + stars: | 2024-06-16 | by ( Christy Choi | ) edition.cnn.com time to read: +8 min

On Chinese social media platforms Weibo and Xiaohongshu, searches for “new Chinese style” and “new Chinese style outfits” hashtags exceeded 100 million in early April, according to state news agency Xinhua. “There is no set rule in the ‘new Chinese style’ (trend) that you must follow, so it is more inclusive. Riding the ‘new’ Chinese style waveFashion designers like Samuel Gui Yang, whose collections have long taken inspiration from Chinese heritage, are seeing more interest from mainland China turn to their brands due to the “new Chinese style” trend. Designer Huang Weizhe, who goes by Azhe online, often posts ideas about how to embrace the "new Chinese style" trend. But some of the “new Chinese style” products are “shoddily made” she said, though she thinks that their designs will improve with time.

Persons: CNN —, Liang Ben, ”, didn’t, Momo, Xiaohongshu, Huang Weizhe, Huang, Samuel Gui Yang, ’, Chang, Yang, Ang Lee’s, “, Hong, Bruce Lee, Eileen Chang, Ian Hylton's, Ian Hylton, Tang, ” Hylton, Min Liu, Min, Hylton, Min “, China’s TikTok, shoddily Organizations: CNN, China News Service, Xinhua, China National Textile and Apparel, Shanghai Fashion, CCTV Locations: China, Shanghai, Beijing, Chengdu, Cao, Shandong, Weibo, London, Hong Kong, American, State, Shandong province

☆ Used EV price crash keeps getting deeper with 'premium' brand idea history
▼ + stars: | 2024-06-16 | by ( Kaya Ginsky | ) www.cnbc.com time to read: +2 min

Back in February, used electric vehicle prices dipped below used gasoline-powered vehicle prices for the first time ever, and the pricing cliff keeps getting steeper as car buyers reject any "premium" tag formerly associated with EVs. In June 2023, average used EV prices were over 25% higher than used gas car prices, but by May, used EVs were on average 8% lower than the average price for a used gasoline-powered car in U.S. Over the past year, gasoline-powered used vehicle prices have declined between 3-7%, while electric vehicle prices have decreased 30-39%. There are many more vehicles in the used market than new car market, and used vehicle value does rapidly depreciate as a rule. As more EVs enter the used market at lower prices, the EV market does become available to a wider market of potential first-time EV owners.

Persons: Karl Brauer Organizations: iSeeCars, Tesla, BMW Locations: U.S

☆ How Carvel’s Fudgie the Whale became a Father’s Day icon
▼ + stars: | 2024-06-16 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

New York CNN —Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale. Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day. Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said. Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too. The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick.

Persons: Father’s, Tom Carvel, Fudgie, Jim Salerno, Carvel, Salerno, ” Salerno, ”, David Henkes, Baskin Robbins, Anne’s, Cookie, “ It’s, Santa Claus, “, It’s, Guy, Kelly Ripa, Kelly, Mark ”, he’s Organizations: New, New York CNN, Father’s, CNN, Dairy, Focus, “, New York Mets ’, Yankees Locations: New York, Father’s, Technomic, East Coast, Santa, Salerno

☆ Insider Today: Meta's manager squeeze
▼ + stars: | 2024-06-16 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Apple announced Apple Intelligence at WWDC 2024. CEO Tim Cook unveiled Apple Intelligence, a generative AI system partly powered by ChatGPT (for now). Assuming Apple Intelligence works as intended, there will be even more reason to switch to or stay with Apple. Add it all together, and, as Linette Lopez writes, Apple may be the one Big Tech company getting AI right.

Persons: —, there's, Jimmy Donaldson, Justin Sullivan, Apple, Tim Cook, Katie Notopoulos, OpenAI, Linette Lopez, Alyssa Powell, Fitch, it's, Abercrombie, Mark Zuckerberg, Michel Shvo Patrick McMullan, Chelsea Jia Feng, Michael Shvo, Shvo, he's, Grace J, Kim, Gen Zers, There's, isn't, Z Organizations: Service, Business, Apple, Apple Intelligence, Google, Microsoft, Big Tech, Getty, Abercrombie, Fitch, GameStop Locations: cologne, New York City

☆ Top Wall Street analysts suggest these 3 dividend stocks for enhanced returns
▼ + stars: | 2024-06-16 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Wall Street's best analysts have insight into companies' ability to provide attractive dividend yield and upside for the long term. Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. With a quarterly dividend of $1.22 per share ($4.88 on an annualized basis), KMB offers a dividend yield of 3.5%. In June, the company paid a base dividend of $1.25 per share and a variable dividend of $1.69 per share. (See Chord Energy Stock Charts on TipRanks)Cisco SystemsOur third pick is dividend-paying technology stock Cisco Systems (CSCO).

Persons: Wall Street's, Wall, Kimberly, Clark, Nik Modi, Modi, Mike Hsu, TipRanks, William Janela, Janela, Jefferies, George Notter, Notter Organizations: Cisco, Clark Consumer, KMB, RBC Capital, Energy, Enerplus, Cisco Systems Locations: San Jose , California, Kimberly, North America, Williston

☆ Cocoa prices are soaring. Candy makers will need to get creative
▼ + stars: | 2024-06-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

Prices of cocoa have more than tripled over the last year, creating a big headache for candy makers and other food companies that use the ingredient to make chocolate. The price surge has since eased off slightly, but the crop is still commanding well above what food companies are used to paying. This season's cocoa crop is expected to experience the largest deficit in at least six decades, according to a Rabobank report from May. A YouGov survey conducted in October found that 72% of U.S. respondents had noticed shrinkflation in food products. J&J Snack Foods CEO Daniel Fachner has been keeping an eye on cocoa and chocolate prices.

Persons: Ferley Ospina, Hershey, Kinder, Ferrero, they'll, Steve Rosenstock, Mondelez, shrinkflation, Daniel Fachner, Fachner, Justin Sullivan, Nik Modi, Modi, shea, Rosenstock Organizations: Bloomberg, Getty, Cadbury, Clarkston Consulting, Rabobank, Reuters, Mondelez, Consumers, Snack, CNBC, RBC Capital, Jumbo Locations: Ragonvalia, Norte de Santader, Colombia, . West Africa, Ghana, U.S, Novato , California, West

☆ Why tariffs on Chinese EVs may not work
▼ + stars: | 2024-06-15 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

The Chinese auto sector is increasingly making global automakers and politicians hot under the collar. In the early 1980s, the Chinese auto industry barely existed. President Joe Biden last month introduced stiff tariffs on Chinese EVs, effectively doubling the list price, which can otherwise be as cheap as $11,500. The administration says Chinese firms have benefited from unfair government support, and Chinese EV imports threaten the Biden administration's big investments in EVs. But a few auto industry insiders are skeptical that tariffs will be able to hold off Chinese imports for long.

Persons: Dunne, Michael Dunne, Joe Biden, Sen, Sherrod Brown, Tesla, Elon Musk, Bill Russo, Donald Trump, Russo Organizations: Volvo, EV, Biden, Chrysler Locations: China, U.S, Sweden, EVs, Ohio, Shanghai, Beijing

☆ This one private equity firm owns over a dozen of your favorite restaurants
▼ + stars: | 2024-06-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

AdvertisementThere's a good chance that just one private equity firm owns one of your favorite restaurant chains. Its latest acquisition happened last year when it acquired Subway, which operates the most stores out of any restaurant chain in the US. But Roark's holdings include other restaurants that you've probably visited before:Roark Capital owns almost 20 restaurant brands, from Carl's Jr. to Dunkin'. AdvertisementThe private equity firm also has investments in The Cheesecake Factory, which is publicly traded, as well as midwestern burger chain Culver's. AdvertisementWhile Roark owns a lot of restaurant brands, it's hardly the only private equity player in the industry.

☆ I've been with my boyfriend for 12 years. We own a home, are planning to adopt a child, but don't want to marry.
▼ + stars: | 2024-06-15 | by ( Rachel Kramer Bussel | ) www.businessinsider.com time to read: +4 min

On a episode of "Abbott Elementary," outspoken teacher Melissa Schemmenti's doting boyfriend Gary heavily hints at planning a wedding proposal, which she insists she doesn't want. Thinking he's found such a miracle, Gary gets Philadelphia Eagles player Jalen Hurts to help him make the proposal. My boyfriend and I jointly own a home, are listed in each other's wills, take vacations together, and are waiting to adopt a child. Marrige is seen as the goalEven in 2024, marriage is still seen as the ultimate achievement in the game of love. What if we saw marriage as one of many ways of honoring love rather than the only socially sanctioned one?

Persons: Melissa Schemmenti's, Gary, he's, Jalen, Taylor Swift, Travis Kelce, Drew, we'd, Melissa, Doug, fixating, we're, we'll, we've, Rachel Kramer Bussel Organizations: Service, Philadelphia Eagles, Twitter

☆ Nelson Peltz’s Trian has a stake in Rentokil. Here’s how the activist might boost shareholder value
▼ + stars: | 2024-06-15 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Rentokil offers a complete range of pest control services, from rodents to flying and crawling insects, to other forms of wildlife management. Trian, managed by Nelson Peltz, takes very few positions, but is very active in its positions. Rentokil Initial is a United Kingdom-based global provider of pest control, hygiene and well-being services for residential, commercial and industrial customers. However, when it has engaged with UK companies, the firm has consistently been able to create shareholder value. Shifting the listing to the U.S. is the low-hanging fruit of value creation and potentially divesting the European business could create additional value.

Persons: It's, Trian, Nelson Peltz, Peltz, Rentokil, Janus Henderson, Ferguson, Ecolab, Rio, Pearson, Ken Squire Organizations: Rentokil's, Unilever, Ferguson, New York Stock Exchange, Rollins, Janus, 13D Locations: United Kingdom, North America, Europe, Saharan Africa, France, U.S, Pentair, London, Rio Tinto, New York

☆ Trader Joe’s tiny coolers are selling like hot cakes. Why and how do products go viral?
▼ + stars: | 2024-06-15 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

But now “you can have it all happen instantly across the whole country.”Success strikes twiceThis isn’t even the first time little Trader Joe’s bags have gone viral. Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said. A Trader Joe's mini tote bag is shown in Palmyra, N.J., on Wednesday, March 13, 2024. “It’s always a surprise.”The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that. “You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said.

Persons: Thaddeus Yan, Joe’s, Yan, Stanley, “, Colin Campbell, Joe doesn’t, Talia Heskett, Joe’s Talia ”, Heskett, She’s, Christy Vetere, ”, Tara Miller, “ I’m, Christina Paciolla, Matt Sloan, Miller, Joe’s hasn’t, Jonah Berger, ” Berger, Lindsey Nicholson, G Yan, “ It’s, TikToker Heskett Organizations: New, New York CNN, eBay, University of San, Facebook, ”, tote, CNN, University of Pennsylvania’s Wharton School, Nike, Variety, Trader Joes, Getty, G Locations: New York, London, University of San Diego’s, Vetere, Palmyra, N.J, Queens , New York

☆ 11 mistakes that can ruin your hot dogs, according to chefs and grilling pros
▼ + stars: | 2024-06-14 | by ( Sophia Mitrokostas | ) www.businessinsider.com time to read: 1 min

Whenever possible, spend a little extra on all-beef hot dogs. It's sometimes worth it to splurge a little on name-brand hot dogs. Evannovostro/ShutterstockGrillers on a budget might be tempted to add bargain-priced hot dogs to their cart, but a truly sublime hot dog starts with quality meat. Tim Hollingsworth, the chef and owner of Otium in downtown Los Angeles, told Business Insider that you'll end up with a tastier dog if you skip the cheaper brands. He recommended keeping an eye out for natural, all-beef hot dogs, which usually aren't that much more expensive and are available in just about every supermarket.

Persons: Tim Hollingsworth Locations: Los Angeles

☆ Chinese automakers overtake U.S. rivals in sales for the first time, report shows
▼ + stars: | 2024-06-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Chinese brands, led by Shenzhen-based BYD, sold 13.4 million new vehicles last year, while American brands sold about 11.9 million, the data showed. Japanese brands led with 23.59 million sales. "Negligence from legacy automakers, which has resulted in consistently high car prices, has inadvertently driven consumers toward more affordable Chinese alternatives," Jato senior analyst Felipe Munoz said in the report. Brands from China have made particular inroads in emerging economies, where Jato said one in five new car sales were made last year amid increased global demand. That is more than the total sales in the U.S. or Europe during the year," said Munoz.

Persons: Felipe Munoz, Jato, Munoz Organizations: Automotive, Jato Dynamics, Brands Locations: Lianyungang Port, Jiangsu Province, China, U.S, Shenzhen, Europe

☆ Shark Detect Pro Self-Empty Robot Vacuum review: Detects dirt, avoids obstacles, and won't get stuck
▼ + stars: | 2024-06-14 | by ( Bethaney Phillips | Jaclyn Turner | ) www.businessinsider.com time to read: +13 min

It was an upgrade from my previous robot vacuum, the Shark EZ Robot Vacuum, which was constantly getting stuck and pulling up small toys, requiring my intervention. Shark Detect Pro Self-Empty Robot Vacuum The Shark Detect Pro Self-Empty Robot vacuum has an auto-empty dust bin that holds up to 60 days of debris. AdvertisementOur review of the Shark vacuumThe Shark Detect Pro easily traverses carpet, and uses a combination of scanning lasers and 3D to navigate. The Shark Detect Pro in Dirt Detect mode (purple/blue light vs. green) to pick up flour. Bethaney PhillipsThe Shark Detect Pro is a huge upgrade to previous Shark robot models.

Persons: doesn't, Bethaney Phillips, crumb, I've Organizations: Business, Technology, FloorDetect, EdgeDetect Technology, NeverStuck, Shark, NeverStuck Technology

☆ Jared Kushner's post-White House deal-making included badly timed bet on Amazon aggregator
▼ + stars: | 2024-06-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +16 min

Kushner started Affinity in 2021, shortly after leaving his advisory role in the White House alongside his wife, Ivanka Trump. Neumann, who was ultimately ousted from WeWork by top SoftBank execs, introduced Kushner to Unybrands early the following year. Affinity's investment in Unybrands, which hasn't previously been reported, was one of the private equity firm's earliest deals. Following a continued slide, the company laid off roughly 10% of its staff in November 2022, according to people familiar with the matter. The House Oversight Committee launched an investigation into the investment in 2022, looking into whether Kushner's financial interests influenced Trump's foreign policy.

Persons: Jared Kushner, Alex Brandon, Kushner, Weeks, Ivanka Trump, Trump, Saudi Crown Prince Mohammed bin Salman, Jamal Khashoggi, WeWork, Adam Neumann, Neumann, Unybrands, hasn't, —, Catterton, Jason Somerville, Somerville, it's, didn't, headcount, Donald Trump, Gary Cohn, Crown Prince, Mohammed bin Salman, Jonathan Ernst, Crown Prince Mohammed bin Salman, Carolyn Maloney, Ron Wyden, Kushner didn't, Ulrich Kratz, Goldman Sachs, Kratz, Kushner's, Ian Brekke, Asad Naqvi, Bret Pearlman, Roger McNamee, Max Fink, Neumann's, Brekke, Naqvi, Pearlman, Fink, Shahar Azran, Eugen Miropolski, Robyn Laguette, Mark Goldfinger, Joe Biden, Lex, Jeff Bezos, Sam Altman, Ye, I've Organizations: U.S . Capitol, Capitol, Reuters, Affinity Partners, Companies, White House, Affinity, Saudi Crown, Unybrands, WeWork, CNBC, Amazon, BlackRock, Khosla Ventures, GW Partners, Saudi Arabia's Public Investment Fund, United Arab, Saudi Arabia's, Crown, Ritz Carlton Hotel, Saudi, Republicans, Crayhill Capital Management, Barclays, Goldman, Kushner, Investments II, Blackstone, Partners, Financial Services, CNBC it's, Israeli American Council, IAC, Getty, Kanye Locations: Washington, Amazon's, South Florida, Miami, Silicon Valley, Saudi, Saudi Arabia, Unybrands, United Arab Emirates, Qatar, Riyadh, Yemen, American, Austin , Texas, Gulf, Israel

☆ Toyota has been rocked by a string of scandals — but analysts are unfazed
▼ + stars: | 2024-06-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. Toyota took the crown with 10.7% market share, while Germany's Volkswagen came in second with a 6% market share. But for Toyota, the top automaker by market share in the world, the latest safety scandal is not the first time it's being investigated for false test data. In April last year, Daihatsu said it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.

Persons: Akio Toyoda, Tomohiro Ohsumi, Germany's Volkswagen, that's, Toyota —, Suzuki, Toyoda, Hino Organizations: Toyota Motor Corp, Toyota, Getty, Germany's, Honda, country's Ministry of Land, Transport, Mazda, Suzuki Motor, Yamaha Motor, Corolla Fielder, Corolla, Daihatsu, Citi Locations: Tokyo, Japan, Infrastructure, Tourism

☆ Maker of Jeep and Dodge plans to kill chrome on cars, citing risks to those who make it
▼ + stars: | 2024-06-14 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

Southern California boasts the highest concentration of chrome plating shops in America and regulators in that state have been requiring those methods for years. But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods. In 2019, green slime oozing out onto a highway near Detroit was found to be hexavalent chromium leaking from a nearby business. “We are also using light as the new chrome,” VW said in a statement shared with CNN. “Chrome peaked in the ’50s with the big American land yachts and stuff with giant chrome bumpers and giant chrome grills.

Persons: CNN —, It’s, ”, Leslie Kendall, Stellantis, it’s, Ralph Gilles, Gilles, Christian Richter, “, ” Gilles, ‘, ’, Bentley –, VW, Peter Valdes, Petersen, Kendall, we’ve Organizations: CNN, Petersen Automotive Museum, Fiat, Maserati, California Air Resources Board, Chrysler, Occupational Safety, Health Administration, National Association, EPA, OSHA, Chrysler Pacifica, Chrysler Pacifica Limited, Volkswagen, VW Group, Audi, Bentley, VW, “ Locations: Los Angeles, United States, Europe, Southern California, America, California, Detroit, Michigan, NASF

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