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☆ New Macy's CEO Tony Spring looks to revive a 166-year-old retailer fighting for relevance
▼ + stars: | 2024-02-04 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

Spring is former CEO of Bloomingdale's and begins as Macy's CEO in February 2024, succeeding longtime Macy's CEO Jeff Gennette, right. Spring will step onto a bigger stage and inherit the iconic department store's issues when he takes over the role of Macy's CEO on Sunday. He said after leading "the better-run part of the business" in Bloomingdale's, Spring needs to bring those "softer skills" to Macy's. Wooing investors and brandsIn his new role, Spring will have to charm investors, shoppers and hot brands. Macy's struggles have turned the retailer into a target for the activist investors Spring will face down as he becomes CEO.

Persons: Spring, Jeff Gennette, Melissa Repko, Macy's, Tony Spring, Bloomingdale's, Neil Saunders, Gennette, Tony, I'm, Sandro, Alice, Olivia, GlobalData's Saunders, Saunders, Jan, Arkhouse, Gavriel Kahane Organizations: CNBC, Herald, Investors, Maxx, Walmart, Cornell University, Arkhouse Management, Brigade Capital Management Locations: New York, Macy's, White Plains , New York, Bloomingdale's

☆ I'm a millennial who visited Abercrombie to see firsthand why my generation is falling back in love with the brand and helping boost sales
▼ + stars: | 2024-01-12 | by ( Jennifer Ortakales Dawkins | Mary Hanbury | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Wooden blinds covered the windows, and the store was so dimly lit that you could barely see what was inside. Under the leadership of Fran Horowitz, who's been the brand's CEO since 2017, Abercrombie has undergone drastic changes. AdvertisementIn January, Abercrombie increased its fourth-quarter sales and its 2023 outlook. I've visited Abercrombie and Fitch stores to see why millennials have fallen back in love with the clothing brand.

Persons: —, Fitch, Abercrombie, millennials, Fran Horowitz, who's, Neil Saunders, Horowitz, I've, Jennifer Ortakales Dawkins Organizations: Service, Abercrombie, Business, GlobalData, Revenues, Nvidia, Fitch Locations: cologne

☆ Bad news, Beijing: Real-estate booms like the one in China nearly always end with a major banking crisis
▼ + stars: | 2024-01-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China's trying to manage its property crisis so the sector's troubles don't spill over. However, history shows that credit-fueled real-estate booms nearly always end with a major banking crisis, said an analyst. Real estate was a key driver of China's economy that has been struggling to recover post-pandemic. AdvertisementChina's trying to manage its real-estate crisis so that its troubles don't spill over to the rest of the economy, which has been struggling to recover post-pandemic. "History shows that credit-fuelled real-estate booms do not end in a whimper; rather, they end with a bang — and nearly always with a major banking crisis," wrote Andrew Lawrence, the head of Asia property at GlobalData.TS Lombard, in a note on Tuesday.

Persons: —, Andrew Lawrence Organizations: Service Locations: Asia, GlobalData.TS

☆ How to take on the viral No Spend January trend
▼ + stars: | 2024-01-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

It’s also a challenge more people are taking on for shorter periods of time — such as a No Spend Week, a No Spend Weekend or No Spend Sunday — or during other months of the year. Courtesy Kate KadenKaden, who said she saves about $2,000 or more during a No Spend Month, has been able to build up her emergency fund and pay off debt. If pulling back on spending in January isn’t appealing, you can have your own No Spend Month at any point in the year. The same goes for getting off email marketing lists, unsubscribing to text promotions or deleting social media all together. Some social media influencers such as Kiersti Torok help connect others to coupons and discounts in local mailers or retail apps.

Persons: Kate Kaden, “, ” Kaden, Instagram, It’s, Kate Kaden Kaden, ” Neil Sanders, ”, isn’t, Ted Jenkin, Melissa Corriveau, “ It’s, she’s, Corriveau, it’s, you’re, Jenkin, influencer Kaden, Kaden, ” Don’t, you’d, Ramit Sethi, CNN he’s “ Organizations: CNN, GlobalData, ”, Oxygen Financial, Costco, New York Locations: Maine, “

☆ 6 retail brands ready for a comeback in 2024
▼ + stars: | 2023-12-29 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +2 min

Business Insider asked analysts what brands have the most potential for turnaround in 2024. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "To reach new younger audiences, they've all struck a really good balance of nostalgia and novelty," Morning Consult analyst Ellyn Briggs told Business Insider. Business Insider asked analysts what brands have the most potential for turnaround and how each company can win over customers. AdvertisementHere are six brands ready for reinvention in 2024.

Persons: —, Abercrombie, Ellyn Briggs, Dana Telsey, Neil Saunders Organizations: Business, Body, Service, Abercrombie, Telsey Advisory, GlobalData, BI Locations: Bath

☆ Shawn Fain, CNN Business’ labor leader of the year, plans to keep automakers sweating
▼ + stars: | 2023-12-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +13 min

New York CNN —The longest US auto strike this century is over after a pretty clear win for the United Auto Workers union at all three unionized automakers. “I don’t like what I’ve seen in my work career with the UAW leadership, where they were too damn close to the companies,” UAW President Shawn Fain told CNN earlier this month. So I like to let the body of work speak for itself.”The success of those contracts is the reason that Shawn Fain is CNN Business’ labor leader of the year. All told nearly 800,000 union members got raises of 10% or more during 2023. The plant will be be reopened under the agreement reached between Stellantis and the UAW to end the union's strike at the company.

Persons: Shawn Fain, there’s, Fain, “, ”, I’ve, Sean O’Brien, Fran Drescher, Ted Pappageorge, Bill Greenblatt, Wheaton, Jeff Schuster, It’s, Stellantis, Bianca Flowers, Reuters “, Ray Curry, GlobalData’s Schuster, ” Shawn Fain, we’re Organizations: New, New York CNN, United Auto Workers, UAW, CNN, CNN Business, UPS, SAG, Writers Guild of America, Culinary, Kaiser Permanente, General Motors, Ford, Motors Wentzville, GM, UPI, Cornell University’s School of Industrial and Labor Relations, GlobalData, Jeep, Reuters, Justice Department, Chrysler, Facebook, UAW International Union Locations: New York, Las Vegas, Stellantis, Wentzville , Missouri, Kokomo , Indiana

☆ While Black Friday and Cyber Monday did good, Giving Tuesday lagged
▼ + stars: | 2023-12-03 | by ( Sergio Padilla | ) edition.cnn.com time to read: +4 min

New York CNN —Americans seemed more willing to spend money on Black Friday and Cyber Monday, but less willing to donate money on Giving Tuesday. Giving Tuesday’s decline in participation is not an isolated incident, but rather, as its organization acknowledges, part of larger trends philanthropic organizations are experiencing. According to a report by Giving USA from this past June, Americans are giving the lowest percentage of their disposable income since 1995. Americans gave just 1.7% of their disposable income in 2022, with charitable giving declining from 2021 by 3.4% to $499.3 billion, which represents an even larger decline of 10.5% when adjusted for inflation. “I think the numbers are very interesting in terms of Black Friday and Cyber Monday but they don’t tell you the whole picture,” said Neil Saunders, managing director of GlobalData Retail.

Persons: “, ”, Asha Curran, Ebenezer Scrooge, Neil Saunders, ” Saunders, CNN’s Nathaniel Meyersohn, Elisabeth Buchwald Organizations: New, New York CNN, Black, CNN, GivingTuesday, United Nations Foundation, National Retail Federation, Adobe, Federal, GlobalData, Adobe Analytics, Charities Aid Locations: New York, New York City

☆ Target is taking booze-less spirits mainstream
▼ + stars: | 2023-12-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —With sales of non-alcoholic beverages recently becoming a nearly half-billion dollar industry, even Target is becoming sober curious. Drinks in the lineup include two celebrity-backed companies: Kin Euphorics, a trendy brand co-founded by model Bella Hadid, and Katy Perry’s De Soi, which makes non-alcoholic apéritifs. Other brands include NOPE and Ghia, both of which produce non-alcoholic canned cocktails, and alcohol-free wine company Surely. “Séchey is a great curator of non-alcoholic brands and will help Target to really elevate its offer,” Neil Saunders, retail analyst and managing director at GlobalData Retail, told CNN. That has created a boom in sales for non-alcohol spirits, wine and beer, which surpassed $500 million this year according to research firm NIQ.

Persons: Sèchey, Kin, Bella Hadid, Katy Perry’s, apéritifs, Kendra Scott, “, ” Neil Saunders, it’s, Molson Coors, Roxie, Molson Coors Beverage Company Roxie, Jamie Rotnicki, Katy Perry, Morgan McLachlan, ” Perry, Perry, she’s, De Soi, Soi Organizations: New, New York CNN, Ghia, GlobalData, CNN, Molson, Molson Coors Beverage Company, Molson Coors, Whole Foods Locations: New York, ”

☆ Beijing is making its biggest move yet to patch up the property crisis threatening to blow up China's economy
▼ + stars: | 2023-11-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China is drafting a "white list" of property developers for bank financing, per Bloomberg. China's massive property sector is in a slump, adding to the country's post-COVID economic woes. AdvertisementChina's finally starting to do something about the three-year property crisis that's been weighing on its COVID-scarred economy. China's real-estate sector has been mired in a crisis since the second half 2021 when a liquidity crisis at Evergrande — once China's second-largest developer — came into public view. AdvertisementStill, not everyone is convinced Beijing's property "white list" will be the solution to China's property problems.

Persons: —, China's, Nomura, it's, Rory Green, Green, White Knight, Vishnu Varathan Organizations: Bloomberg, Service, BI, Mizuho Bank, Business Locations: China, Beijing, Asia

☆ US new vehicle sales to rise in November on strong demand - report
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Carlos Barria/File Photo Acquire Licensing RightsNov 22 (Reuters) - New vehicle sales in the United States are expected to rise in November, a report from industry consultants showed on Wednesday, as demand for the latest models remains strong and inventories improve. U.S. new vehicle sales, including retail and non-retail transactions, are estimated to reach 1,236,000 units in November, a 10.2% jump from a year earlier, according to the joint forecast report by J.D. "Sales growth is being enabled by improving vehicle availability," said Thomas King, president of the data and analytics division at J.D. Inventory pile-up, however, led to a 1.9% year-on-year decline in transaction prices with an average price of new retail vehicles at $45,332. Power and GlobalData have also raised the annual forecast for global light-vehicle sales to 89.3 million units, up 10% from last year, on strength in China demand.

Persons: Carlos Barria, J.D ., Thomas King, J.D, Jeff Schuster, Ananta Agarwal, Shweta Agarwal Organizations: REUTERS, J.D, Thomson Locations: Port of Richmond, San Francisco , California, United States, ., China, Bengaluru

☆ AI poster child Altman back at OpenAI, may have fewer checks on power
▼ + stars: | 2023-11-22 | by ( Aditya Soni | ) www.reuters.com time to read: +4 min

[1/3] Sam Altman, CEO of ChatGPT maker OpenAI, arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. "Altman seems awfully powerful and it is unclear that any board would be able to oversee him. The board fired Altman last week with little explanation and attempted to move on by naming an interim CEO twice. "The fact that Summers and Taylor will join OpenAI is quite extraordinary and marks a dramatic reversal of fortunes in the company," Valle said. Sutskever, Altman and Taylor could not be immediately reached for comment.

Persons: Sam Altman, OpenAI, Chuck Schumer, Craig Hudson, Sam Altman's, Altman, Mak Yuen Teen, " Altman, Beatriz Valle, Bret Taylor, Salesforce, Larry Summers, Summers, Taylor, Valle, Jack Dorsey's, Tasha McCauley, Helen Toner, Ilya Sutskever, Adam D'Angelo, Sutskever, Sam, Gartner, Jason Wong, Aditya Soni, Mark Porter Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Microsoft, National University of Singapore Business School, Wall, Elon Musk's, Twitter, ., Harvard, Democratic, OpenAI, Georgetown's Center for Security, Emerging Technology, Thomson Locations: Washington , U.S, Bengaluru

☆ Kim Kardashian is investing in the maker of truffle-infused condiments
▼ + stars: | 2023-11-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Kim Kardashian’s private equity firm has announced its first investment: A company that makes truffle-infused sauces that sell for about $20 a bottle. SKKY Partners, the company she formed last year with a former executive at Carlyle Group, has acquired a “significant minority stake” in Truff sauces. The six-year-old brand has recently grown in popularity for its condiments that extends from hot sauce to mayonnaise. The sauce brand has recently had high-profile collaborations with Taco Bell for a custom hot sauce and Hidden Valley for a special dressing. Skims, her underwear and apparel brand, recently launched a line for men.

Persons: New York CNN — Kim, SKKY, —, ” Kardashian, “, Truff, Taco, Ramadan, SKKY weren’t, Neil Saunders, ” Saunders, Jay Sammons, Carlyle, hadn’t Organizations: New, New York CNN, SKKY Partners, Carlyle Group, ”, Foods, Taco Bell, Unilever, Financial, GlobalData, CNN, ” Investment Locations: New York

☆ Black Friday came early this year, signaling worries about holiday demand
▼ + stars: | 2023-11-17 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season. Last year, about 30% of overall holiday sales happened online and other non-stores versus physical retail locations, according to the NRF. On average, 7.8% of all items were on sale at some point during the month compared to just 4.9% in 2019 and 3.3% in 2021. In Oct. 2022, prices were down just .7% compared to the prior year and in Oct. 2021, prices were up 1.9% compared to the prior year. The following year, when both inventories and inflation had grown and consumers were starting to feel the burn of high prices, promotions rose.

Persons: Barbie, Mario Tama, GlobalData, They're, it's, Daniel Rubin, John's University's Peter J, Brett House, we've Organizations: Walmart, Getty, Adobe Analytics, Adobe, CNBC, National Retail Federation Retail Monitor, ., Tobin College of Business, Columbia Business School Locations: Burbank , California, GlobalData

☆ Old Navy gives Gap a little something to cheer about amid sales slump
▼ + stars: | 2023-11-16 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

But signs of a turnaround for its Old Navy division offered at least something to cheer about. Overall revenue in the quarter for Gap Inc. fell 7% in the period over last year to $3.8 billion. Store sales across its brands in the quarter dropped 6%, while companywide online sales slumped 8% over the same time last year. Looking at its individual brands, sales at Gap’s namesake stores tumbled 15% versus a year ago. Excluding the negative impact from the sale of Gap China and the shutdown of Yeezy Gap, net sales for Gap were down 6% versus last year.

Persons: retailer’s, Richard Dickson, Dickson, Mattel, Barbie, “ Barbie ”, ”, Neil Saunders Organizations: New, New York CNN, Old Navy, Gap Inc, Refinitiv, Old, Industry, Warner Bros . Pictures, Inc, GlobalData Locations: New York, China

☆ Formula One clothing craze sweeps retailers ahead of Vegas debut
▼ + stars: | 2023-11-16 | by ( Katherine Masters | ) www.reuters.com time to read: +4 min

[1/4] F1 apparel is displayed for sale, as U.S. retailers including PacSun and Abercrombie & Fitch are launching lines of Formula 1-inspired apparel, in Las Vegas, Nevada, U.S., November 15, 2023. Teen clothing chains Abercrombie & Fitch (ANF.N) and PacSun are among the U.S. retail chains seeking to turn Americans' budding love affair with Formula One into sales of F1-inspired clothing lines, building partly on excitement for this weekend's inaugural Las Vegas Grand Prix, the retailers said. At the start of the year, the average ticket price for the three-day race weekend was $1,667 -- more than triple that for some European races, such as the Belgian Grand Prix. Rolex paid $35 million in 2023 for a deal that includes title naming rights at two Grand Prix, according to research firm GlobalData. Ahead of the Vegas race, PacSun is selling a collection that includes a pair of $69 women’s cargo jeans and a $600 men’s leather jacket.

Persons: Mike Blake, Jay Prasad, ”, Richard Cox, PVH, Tommy Hilfiger, Conrad Wiacek, Red, Max Verstappen, they’re, Williams, Alfa, Katherine Masters, Jonathan Oatis Organizations: Abercrombie, Fitch, REUTERS, Rolex, One, Las Vegas, Prix, Mercedes, AMG Petronas, Miami Grand Prix, Puma, AP Rocky, Monaco, Netflix, ESPN, Red Bull, Alpine, Kappa, McLaren, Alfa Romeo, Thomson Locations: Las Vegas , Nevada, U.S, Belgian, Vegas, Miami, United States, Las Vegas, men’s

[1/2] A Tesla electric vehicle is plugged to a charger in a parking lot in Teia, north of Barcelona, Spain, October 31, 2023. High interest rates and a subdued market are putting customers off, they warned, with Volkswagen's EV order intake half what it was last year. Reuters GraphicsFALLING BEHINDCritics have long warned that a lack of affordable EVs would eventually stall the steep sales growth boosted by early adopters and corporate fleets. A weaker performance in September, consumer sentiment surveys and bleak commentary from carmakers and dealers indicates that low growth era may have arrived. "We call it the valley of death, which we will be going through in 2024 to 2027: low residual values, high supply, and low demand," Nothard added.

Persons: Albert Gea, EVs, Thomas Niedermayer, Flavia Garcia, Tom Carvell, Martina, AutoTrader, Garcia, We'll, Critics, Felipe Munoz, Alistair Bedwell, Langston, Ben DuCharme, Philip Nothard, Nothard, Victoria Waldersee, Nick Carey, Giulio Piovaccari, Paul Lienert, Sumanta Sen, Alexander Smith Organizations: REUTERS, Tesla, Volkswagen, Mercedes, Benz, Reuters Graphics Dealers, Toyota, HK, Reuters Graphics, Ford, GM, United Auto Worker, JATO Dynamics, Langston, Cox Automotive, Thomson Locations: Barcelona, Spain, LONDON, Europe, Germany, Italy, Bavarian, Edinburgh, Scotland, Britain, BYD, Nio, U.S, Rome, Detroit

☆ Here’s why saving this Illinois auto plant is a ‘gigantic deal’
▼ + stars: | 2023-11-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Now the United Auto Workers union can add one more. Illinois is not a political battleground state like Michigan or Ohio, which have far more auto plants. But that plant is now due to reopen as an assembly plant in 2027, building a new midsize pickup truck. President Joe Biden speaks to the United Auto Workers union in Belvidere, Illinois, on Thursday. And it’s what happened with the last GM assembly plant in Detroit, its Hamtramck Assembly plant, that as part of the 2019 labor deal was closed in early 2020 and re-tooled to make electric pickups, reopening in November 2021.

Persons: Joe Biden, Shawn Fain ., “, ”, Jeff Schuster, Fain, Biden, ” Fain, Evan Vucci, ” ‘, Dawn Sims, Stellantis, Schuster Organizations: New, New York CNN —, Motors, Stellantis, Ford, United Auto Workers, UAW, Stellatis, GM, Workers, GlobalData, Chrysler, Hamtramck Assembly Locations: New York, Belvidere , Illinois, Shawn Fain . Illinois, Michigan, Ohio, Belvidere, Illinois, Chicago, Stellantis, Delaware, Edmunds, Sterling Heights , Michigan, Detroit, Hamtramck, Spring Hill , Tennessee, Orion Township , Michigan, Lordstown , Ohio, Warren , Michigan, Baltimore

☆ GM-UAW agreement expected to include more affordable Bolt EUV
▼ + stars: | 2023-11-06 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

General Motors assembly workers connect a battery pack underneath a partially assembled 2018 Chevrolet Bolt EV vehicle on the assembly line at Orion Assembly in Lake Orion, Michigan, U.S., March 19, 2018. GM said on Monday it would not comment on the tentative agreement pending ratification by the UAW. The UAW summary did not specify products or timing for GM's Fairfax and Lansing plants. GM currently builds the Chevrolet Malibu and Cadillac XT at Fairfax and the Cadillac CT4 and CT5 and Chevrolet Camaro in Lansing. Chief Executive Officer Mary Barra has said the current Bolt will be phased out of production at the end of this year.

Persons: Rebecca Cook, GM's Fairfax, Mary Barra, Ford, ”, Bill Rinna, “ BEV, Sam Fiorani, Stellantis, Paul Lienert, Matthew Lewis Organizations: Motors, Bolt, Orion Assembly, REUTERS, Rights DETROIT, General Motors, Chevrolet, Cadillac, Reuters, UAW, GM, Chevrolet Malibu, Fairfax, Ford, AutoForecast Solutions, Thomson Locations: Lake Orion , Michigan, U.S, Kansas, Michigan, Lansing, Fairfax , Kansas, Fairfax, Lansing ., Detroit

☆ Magnolia Bakery is turning its most iconic desserts into cannabis edibles
▼ + stars: | 2023-11-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

The New York City-based dessert maker is transforming some of its famous treats into THC-infused edibles, including its banana pudding and red velvet cake. The limited-edition bars, which mark Magnolia’s first-ever cannabis product, “celebrate the brand’s most iconic, fan-favorite flavors in a new light,” the bakery said. That has created consumer interest in weed, including edibles, with the stigma of buying the drug dissipating. Perhaps once known for being just “pot brownies,” the edible market has blossomed into several categories and hundreds of brands, including gummies, mints and candy bars. “There is no real downside to Magnolia, as consumer opinions on cannabis are now relativity liberal,” he told CNN.

Persons: Magnolia, It’s, Scott Vickers, Neil Saunders, ”, Saunders Organizations: New, New York CNN, Green Thumb Industries, Marijuana, CNN, City, GlobalData Locations: New York, New York City, — Illinois, Nevada, Massachusetts

☆ Adidas and Puma eye chances in soccer's fashion moment
▼ + stars: | 2023-11-01 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +5 min

One Premiership team has hired a creative director to expand its apparel offering, while Adidas in September launched an "exclusively off-pitch" apparel collection for some of the big-name teams it sponsors. "The love-in between football and fashion is only just beginning," said Richard Busby, CEO at sponsorship consultancy BDS Sponsorship. In August, Crystal Palace hired Kenny Annan-Jonathan as creative director focused on apparel. "We are experiencing hype around football jerseys and general designs influenced by football culture across streetwear and fashion," said Puma's global creative director Heiko Desens. "There's a risk of tension with existing fans whenever you start moving beyond the core culture," said Athens Kallithea's president and creative director, Ted Philipakos.

Persons: Asanka Brendon Ratnayake, Kim Kardashian, Richard Busby, Mary Earps, Busby, Kardashian, Germain, Mia Regan, Kenny Annan, Jonathan, GlobalData, Heiko Desens, Puma, popstar, cleats, Pele, Rihanna, Graham Renwick, Prada, Ted Philipakos, Philipakos, Helen Reid, Catherine Evans Organizations: Soccer Football, FIFA, England, Soccer, LONDON, Adidas, Puma, Nike, Greek, Athens Kallithea, Paris Saint, Arsenal, Crystal Palace, Premier League club, FOOTBALL, Bayern Munich, Juventus, Manchester United, Real, Liverpool, Newcastle United, Italy's Venezia FC, Athens Kallithea's, Premier League, Bundesliga, Thomson Locations: New Zealand, Spain, Australia, Sydney, Brazilian, Real Madrid, Italian, Athens

☆ Spirit Halloween lives on, even when the holiday ends and stores close
▼ + stars: | 2023-11-01 | by ( Drew Richardson | ) www.cnbc.com time to read: +5 min

The facade of seasonal Halloween decor store Spirit Halloween at a shopping center in Dublin, California, on Aug. 23, 2018. Smith Collection | Archive Photos | Getty ImagesHalloween is over, and your local Spirit Halloween is about to become a ghost town. The retailer opened a record 1,506 stores this season, up more than 50 stores from 2022, Spirit Halloween told CNBC. These become opportunities for Spirit Halloween, then, as the company pays to use the abandoned space for the Halloween season. Drew Richardson | CNBC"We have built great relationships with our real estate partners over the years," a representative for Spirit Halloween told CNBC.

Persons: it'll, Steven Silverstein, Silverstein, Drew Richardson, Maria, Jane, Neil Saunders, Saunders, Lana, I'm Organizations: Spirit, Spencer Spirit Holdings, Halloween, CNBC, Rite, CVS, Harmon, CVS Pharmacy, National Retail Federation Locations: Dublin , California, It's, New York, Manhattan's, New York City, New, Brooklyn Heights, Russia

☆ Auto strike is now the longest in 25 years
▼ + stars: | 2023-10-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —As of Wednesday, the unprecedented strike by the United Auto Workers union against General Motors, Ford and Stellantis is now also the longest American auto strike in 25 years. The last time the union struck one of the automakers, with its 2019 strike at GM, the strike lasted 40 days. Wednesday is the 41st day of the strike that started on September 15. This strike is also the first time the union has walked out at all three automakers at the same time. All the companies are on record saying they want to reach a deal to end the strike, as has the union.

Persons: GlobalData Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, GM, Kentucky, Plant, UAW Locations: New York, Sterling Heights , Michigan, Arlington , Texas, Louisville, Stellantis

☆ Breakingviews: Globalization woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Over the past seven decades, the world economy has grown 14-fold, powered by a 45-fold expansion in global trade, according to the World Trade Organization. World trade as a percentage of GDP peaked at 61% in 2008. The first is rising geopolitical tensions between the United States and China. The retrenchment is probably going to be gradual: global trade was still worth 57% of world GDP last year. For 2024, the WTO said growth in goods trade would pick up to 3.3%, virtually unchanged from its April estimate of 3.2%.

Persons: Chris Helgren, Joe Biden, Xi Jinping “, ”, Caroline Freund, Aaditya Mattoo, Alen Mulabdic, Michele Ruta, Ursula von der Leyen, it’s, Laura Alfaro, Davin Chor, Dario Perkins, GlobalData’s Perkins, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Warehouse Union, REUTERS, Reuters, World Trade Organization, Economic, Reuters Graphics Reuters, HK, Amperex Technology, European Central Bank, GlobalData, Lombard, Companies, Bureau of Labor Statistics, ECB, Thomson Locations: Vancouver , British Columbia, Canada, Netherlands, United States, China, Beijing, Washington, U.S, Taiwan, Mexico, Vietnam, People’s Republic, Latin America, Chile, Brazil, Ukraine, Geneva

☆ Globalisation woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

☆ Social Security gains came back to earth. What that means for the economy
▼ + stars: | 2023-10-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

That’s why it’s a big deal when Social Security recipients receive their annual cost-of-living adjustment. Starting in January they’ll see a 3.2% increase in their Social Security checks, that’s a much smaller increase than the inflation-fueled boosts of the past two years, the Social Security Administration announced last week. David Certner: The Social Security Cost-of-Living Adjustment (COLA) is based on the Consumer Price Index for urban wage earners. The amount of GDP that’s generated by Social Security checks is actually larger than the total amount of Social Security money going out in the first place. Before the Bell: Could an increase in Social Security possibly add to inflation since that money is bolstering the economy?

Persons: they’ll, Bell, David Certner, There’s, we’ve, David Goldman, —, ”, Neil Saunders, GlobalData, ” Taylor, Taylor, “ Taylor Swift, ” Elizabeth Frank Organizations: New, New York CNN — Social Security, Social, Security, Social Security Administration, AARP, Consumer, Bell, Social Security, Medicare, CVS, Walgreens, Walmart, Target, Costco, US Securities and Exchange Commission, ”, Aid, Rite Aid, AMC Locations: New York, United States, Canada, United Kingdom, Mexico, Australia, Germany, Philippines, Brazil, South Korea, Malaysia, Singapore, Taiwan, Hong Kong

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