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☆ Macy's CEO Gennette to retire next year, insider Spring to succeed
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

March 29 (Reuters) - Macy's Inc (M.N) on Wednesday said its Chief Executive Officer Jeff Gennette will retire in February, after serving the U.S. department store chain for 40 years and will be succeeded by insider Tony Spring. Spring, who is the chairman and CEO of Macy's unit Bloomingdale's, has been with the company for 36 years. He was named as a successor to Gennette after an internal and external search, Macy's said. Macy's said as part of the leadership transition, Chief Financial Officer Adrian Mitchell's responsibilities have been expanded to include the role of chief operating officer. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Macy's CEO to step down. Here's what the future of the brand looks like and the strategy to engage younger consumers
▼ + stars: | 2023-03-29 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Macy's CEO Jeff Gennette will retire in February, the company announced on Wednesday. Tony Spring will take his place and continue shifting Macy's strategy based on consumer changes. Here's how Macy's "Polaris Strategy" is preparing the brand for the future. A shift in supply chain proceduresJeff Gennette spoke about the future of Macy's. Astrid Stawiarz/Getty ImagesThe supply chain has been a pain point for many businesses over the last three years.

☆ Macy's CEO Jeff Gennette to retire after 40 years at the department store
▼ + stars: | 2023-03-29 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Macy's CEO Jeff Gennette will retire and step down from his role in February 2024. Gennette has been at the department store chain for 40 years. Jeff Gennette joined Macy's in 1983 as an executive trainee and worked his way up the ranks, becoming CEO in 2017. Macy's said Wednesday that Tony Spring, CEO of Macy's sister company Bloomingdale's, will take over Gennette's role. CFO Adrian Mitchell will add the role of COO to his responsibilities – overseeing stores, tech, and supply chain needs, Macy's said.

☆ Macy's CEO Jeff Gennette, who's led the company's turnaround effort, will retire next year
▼ + stars: | 2023-03-29 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Macy's CEO Jeff Gennette will retire early next year after a four-decade career at the company, the department store chain announced Wednesday morning. He will be succeeded by Tony Spring, CEO of the company's higher-end department store banner, Bloomingdale's. In addition to the CEO change, Macy's Chief Financial Officer Adrian Mitchell will take on an expanded role and also serve as the company's chief operating officer. In a news release, Macy's said Spring, 58, was tapped as its next leader after an internal and external search. Gennette called Spring and Mitchell "an ideal team to build on our momentum and propel Macy's, Inc. into the future."

☆ Polaris CEO on new online marketplace for powersports vehicles
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPolaris CEO on new online marketplace for powersports vehiclesPolaris CEO Mike Speetzen joins 'Closing Bell:Overtime' to discuss their new online marketplace for powersports vehicles.

☆ Premarket stocks: Americans are going all-in on cash. That could spell more trouble
▼ + stars: | 2023-03-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The goal of a money market fund is to provide investors with a relatively stable investment option that offers higher returns than traditional savings. What’s happening: Since the Fed began to raise interest rates a year ago, the amount of money in money market funds has increased by roughly $400 billion. Goldman Sachs economists wrote in a note on Thursday that Americans could sell as much as $1.1 trillion in stocks this year and put that money into credit and money market assets instead. Money market funds are deeply interconnected with the wider financial system, and often face the same risks as banks. The Federal Deposit Insurance Corporation, a US government agency that insures deposits in banks and savings associations, does not insure cash invested in money market funds.

☆ Short-seller Hindenburg targets Jack Dorsey’s Block
▼ + stars: | 2023-03-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Block, the company behind Cash App, plunged by 20% Thursday morning after the release of a searing report from short-seller Hindenburg Research that accused Jack Dorsey’s company of allowing fraudulent accounts that obscure criminals involved in illegal or illicit activities, including the sex trafficking of minors. Hindenburg’s attack on Block comes two months after the short seller’s allegations against Adani Group erased billions of dollars from the Indian conglomerate’s balance sheets. In 2021, members of the “Cash App” gang were charged with distributing fentanyl, the report said. Hindenburg, meanwhile, has made a name for itself by publishing explosive reports about businesses and short-selling the stocks of the companies associated with them. Hindenburg has targeted nearly 30 companies since 2020, and on average their targets lost about 15% on the day the reports were released, according to Bloomberg calculations.

☆ The Earth has tilted on its axis differently over the last few decades due to melting ice caps
▼ + stars: | 2023-03-21 | by ( Aylin Woodward | Marianne Guenot | ) www.businessinsider.com time to read: +7 min

Earth's axis — the invisible line around which it spins — is bookended by the north and south poles. But their geographic locations aren't fixed: As the Earth's axis moves, so do the poles. If you average out thousands of years of observation the Earth's axis points in a single direction — toward the North Star, also known as Polaris. The recent change to Earth's axis won't affect our everyday lives, but it could slightly tweak the length of our days. But let's be clear that this would be a tiny, tiny, tiny effect," he said.

☆ ArcBest Rolls Out Technology to Speed Up Freight Loading
▼ + stars: | 2023-03-01 | by ( Liz Young | ) www.wsj.com time to read: +5 min

The freight-management system, called Vaux, is a steel-and-aluminum racking system that sits underneath and around cargo inside trailer beds. Warehouse workers can latch a forklift onto the Vaux platform to push freight into a trailer or pull freight out in one move, instead of having to handle pallets individually. ArcBest says loading or unloading a truck using Vaux takes less than five minutes, compared with the traditional process the company says can take 45 minutes. “What our customers have been telling us is that they are really under pressure,” ArcBest Chief Executive Judy McReynolds said. Rival trucking company TFI International Inc. recently disclosed it had taken a 4% stake in ArcBest, prompting speculation TFI is looking to buy ArcBest.

☆ U.S. core capital goods orders post largest gain in five months; shipments surge
▼ + stars: | 2023-02-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

REUTERS/Dan KoeckSummarySummary Companies Core capital goods orders increase 0.8% in JanuaryCore capital goods shipments surge 1.1%Durable goods orders drop 4.5% on aircraftPending home sales increase 8.1% in JanuaryWASHINGTON, Feb 27 (Reuters) - New orders for key U.S.-manufactured capital goods increased by the most in five months in January while shipments of those so-called core goods rebounded, suggesting that business spending on equipment picked up at the start of the first quarter. These core capital goods orders dropped 0.3% in December. Economists polled by Reuters had forecast core capital goods orders edging up 0.1%. Core capital goods orders increased 5.3% on a year-on-year basis in January. Shipments of core capital goods bounced back 1.1% after declining 0.6% in December.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. Food makers tend to cull products without much fanfare. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Eliminating less popular products is part of a "decomplexity program" underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference this week. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

☆ The most dangerous cruise routes, ports, and destinations are in parts of the world where conditions are unpredictable — and help is nowhere nearby, travel analysts say
▼ + stars: | 2023-02-16 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

But some cruise destinations and routes are prone to dangerous conditions and risky activity. These are some of the most dangerous cruise locations around the world. AntarcticaThe world's southernmost continent is among the most beautiful — and dangerous — cruise destinations, according to Chiron and Klein. Cruise passengers during a lifeboat drill in the Northwest Passage near Nunavut, Canada. National Park Service via APCruise lines avoid dangerous portsWhile rough seas and high winds can make ocean travel dangerous, uncertainties on land pose their own risks for visitors.

☆ Spate of passenger deaths aboard Antarctic cruises prompts Coast Guard to investigate as the 'treacherous' destination rises in popularity and access
▼ + stars: | 2023-02-10 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

The Coast Guard is assisting with probes into four deaths on Antarctic cruise ships last year. The small boat capsized with six passengers onboard near Elephant Island in Antarctica, the Coast Guard said. Portugal is leading the investigation while the Coast Guard and National Transportation Safety Board conduct a marine casualty probe into the deaths. Another American was injured in an inflatable zodiac while traveling with Norway's Viking Polaris near Damoy Point, Antarctica, according to the Coast Guard. Norway is heading both investigations stemming from the Viking Polaris, the Coast Guard said.

How to earn Southwest pointsCompare Southwest credit cards Southwest Rapid Rewards® Plus Credit CardSouthwest Rapid Rewards® Premier Credit CardSouthwest Rapid Rewards® Priority Credit CardSouthwest® Rapid Rewards® Premier Business Credit CardSouthwest® Rapid Rewards® Performance Business Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Transfer points from Diners Club or hotel loyalty programsDiners Club members can also transfer Club Rewards points to Southwest — 1,500 Club Rewards points, for instance, would convert to 1,200 Southwest points. It's also possible to redeem points earned through participating hotel loyalty programs if you'd rather put them toward flights than hotel stays, though redemption rates are pretty low:5,000 Best Western Rewards points = 1,200 Southwest points6,000 Choice Privileges points = 1,800 Southwest points2,000 Radisson Rewards America points = 200 Southwest points50,000 Radisson Rewards America points = 5,000 Southwest points100,000 Radisson Rewards America points = 10,000 Southwest points9,000 Marriott Bonvoy points = 3,000 Southwest points30,000 Marriott Bonvoy points = 10,000 Southwest points60,000 Marriott Bonvoy points = 20,000 Southwest points90,000 Marriott Bonvoy points = 30,000 Southwest points120,000 Marriott Bonvoy points = 40,000 Southwest points5,000 World of Hyatt points = 2,400 Southwest points50,000 World of Hyatt points = 24,000 Southwest pointsNote that World of Hyatt throws in an additional 6,000 Southwest points as long as you're a member, while Marriott Bonvoy adds 5,000 Southwest points for every 60,000 Marriott points transferred. For instance, a $220 Business Select fare would yield 2,640 Southwest points, while a $200 Anytime ticket would yield 2,000 Southwest points, and a $100 Wanna Get Away ticket would yield 600 Southwest points. Earn Southwest points by taking online surveysYou can earn points by taking online surveys through E-Rewards — $15 worth of E-Rewards yields 300 Southwest points, $25 worth of E-Rewards yields 600 Southwest points, $50 worth of E-Rewards yields 1,200 Southwest points, and $100 worth of E-Rewards yields 2,400 Southwest points.

☆ Jim Cramer's top 10 things to watch in the market Wednesday: Fed Day, AMD, Snap signal
▼ + stars: | 2023-02-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Fed Day: The central bank is expected to raise the interest rates by a quarter-point to the range of 4.50% to 4.75%. UBS downgrades Snap (SNAP) to hold from buy with an unchanged price target of $10, and says business is really soft. Club stock Humana (HUM) topped earnings estimates Wednesday morning with revenue in line, great guide. In its quarterly report Wednesday, the exercise equipment said subscription revenue better than hardware sales, noted significant outperformance for connected fitness. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Explainer: What to expect during the green comet's encounter with Earth
▼ + stars: | 2023-01-30 | by ( Joey Roulette | ) www.reuters.com time to read: +3 min

Nicknamed "dirty snowballs" by astronomers, comets are balls of ice, dust and rocks that typically hail from the ring of icy material called the Oort cloud at our solar system's outer edge. One known comet actually originated outside the solar system - 2I/Borisov. Comets are composed of a solid core of rock, ice and dust and are blanketed by a thin and gassy atmosphere of more ice and dust, called a coma. Its greenish, emerald hue reflects the comet's chemical composition - it is the result of a clash between sunlight and carbon-based molecules in the comet's coma. NASA plans to observe the comet with its James Webb Space Telescope (JWST), which could provide clues about the solar system's formation.

It's easy to earn United miles without stepping on a plane, and because they don't expire, you can use miles when you're ready to travel. There are six United credit cards to consider if you just want to earn United miles and enjoy some day-of-travel perks to boot. Review: Ink Business Preferred card reviewBilt Mastercard® 4.5 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5 out of 5 Stars Intro offer N/A Rewards Earn 3X point on dining. Earn United miles by flying United and its partnersOf course, the other main way to stock up on a lot of United MileagePlus miles is to fly United and its other airline partners. Earn United miles with other travelIn addition to just flights, you can earn United miles by booking stays with United's hotel partners, sailings through United Cruises, and entire trips through United Vacations, as well as partner car rentals.

☆ We could be the last humans to see the green comet passing Earth for the first time since the Ice Age. Here's how, where, and when to watch it.
▼ + stars: | 2023-01-28 | by ( Morgan Mcfall-Johnsen | Kenneth Niemeyer | ) www.businessinsider.com time to read: +6 min

Astronomers recently discovered a green comet approaching Earth for the first time in 50,000 years. Here's how, where, and when to see Comet ZTF as it passes Earth in late January and early February. When to see the green cometYou may need a small telescope to spot Comet ZTF, but binoculars could be enough. Amateur astronomers have already begun photographing the green comet to show what you could see. Where to look in the night sky for comet ZTFLook to the right stars to see the green comet.

☆ Here comes the biggest week of earnings. Plus an AI ode to the Dow
▼ + stars: | 2023-01-28 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Stocks may face an inflection point in the week ahead as the Fed meets and Apple posts earnings
▼ + stars: | 2023-01-27 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

The Fed's meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting that week. The most important day for earnings is Thursday, when Apple , Alphabet and Amazon report after the bell. The Nasdaq Composite was up 11% for the month as of Friday afternoon, well ahead of the 6.2% gain in the S & P 500. Traders have been watching the S & P 500 edge closer to the key threshold of 4,100 , its high from December. AAPL 1Y line apple Apple is also important because of the signals it can send about the strength of the consumer, supply chains and China's reopening.

☆ See the rare green comet in pictures so you know what to look for in the sky
▼ + stars: | 2023-01-20 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

A rare green comet is flying past Earth in late January and early February. Comet ZTF hasn't passed our planet since the last Ice Age, and humans may never see it again. These stunning photos show what you could see if you spot the green comet in the night sky. If you catch Comet ZTF with a telescope, you could see something like this:Comet ZTF, as photographed on January 18, 2023. Want to see the green comet yourself?

☆ Now's the best time to see the green comet passing Earth for the first time since the Ice Age. Here's how, where, and when to see it.
▼ + stars: | 2023-01-18 | by ( Morgan Mcfall-Johnsen | Kenneth Niemeyer | ) www.businessinsider.com time to read: +5 min

Astronomers recently discovered a green comet approaching Earth for the first time in 50,000 years. Comet ZTF may never return, so we could be the last humans to see it. C/2022 E3 (ZTF), or Comet ZTF for short — the name astronomers gave this space snowball after the Zwicky Transient Facility discovered it in March — hasn't been in our cosmic neighborhood since the last Ice Age. When to see the green cometYou may need a small telescope to spot Comet ZTF, but binoculars could be enough. Where to look in the night sky for comet ZTFLook to the right stars to see the green comet.

☆ Here's how Macy's is doing business differently, according to the brand's Chairman and CEO
▼ + stars: | 2023-01-16 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

Macy's CEO Jeff Gennette joined the National Retail Federation's "Retail's Big Show" event this month. Retail leaders can predict consumer trends with pricing science and credit card data. One way the store is predicting consumer trends is with digital strategy, allocation science, and pricing science. A shift in supply chain proceduresThe supply chain has been a pain point for many businesses over the last three years. In recent years, Macy's has "totally redone" its supply chain, said Gennette, adding that it's reducing its dependence on China and shifting to more duty-free countries.

☆ United Airlines is bringing back its beloved ice-cream sundae cart for business-class passengers on all long-haul international flights
▼ + stars: | 2023-01-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

United Airlines says its ice-cream sundae cart is returning to long-haul international flights. Because the United Polaris business class Sundae Cart IS BACK!" The airline replaced them with pre-packaged ice cream in an attempt to limit the spread of the virus. United Airlines also said it was "revamping the Polaris dessert service" and "bringing back a new three-tier dessert cart for our signature ice-cream sundae service" in the memo, per Travel Noire. Representatives for United Airlines did not immediately respond to Insider's request for further comment.

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