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☆ Who is Hope Hicks, longtime Trump aide who is testifying in NY hush money case?
▼ + stars: | 2024-05-03 | by ( Michelle Shen | ) edition.cnn.com time to read: +8 min

Washington CNN —Hope Hicks, once a longtime trusted aide in Donald Trump’s inner circle, is testifying Friday in the New York hush money trial after being subpoenaed. As CNN reported previously, Hicks appeared before the grand jury last year before Trump was indicted, as did Trump counselor Kellyanne Conway. According to reporting from “The Divider: Trump in the White House, 2017-2021,” Trump is quoted as saying, “Well, Hope doesn’t believe in me.”“No, I don’t,” Hicks replied, according to the book. “Nobody’s convinced me otherwise.”In October 2022, Hicks testified before the House select committee investigating the January 6, 2021, Capitol riot. In a video clip played by the committee, Hicks testified about a conversation she had with Trump after the election, regarding his baseless claims of election fraud.

Persons: Washington CNN — Hope Hicks, Donald Trump’s, “, ” Hicks, Hicks, Trump, Kellyanne Conway, Cohen, Stormy Daniels, Rob Porter, Trump’s, Porter, ” Trump, Hope doesn’t, ”, “ Nobody’s, Trump “, ’ ” Hicks, Daniels, ” Cohen, Prosecutors, upended, –, David Pecker, Dylan Howard, Stephanie Clifford, I’ve, Sheila Jackson Lee, Jerry Nadler, Nadler, ’ Organizations: Washington CNN, CNN, Trump, Trump Organization, White, House Intelligence, Fox News, Trump White, House, Capitol, Politico, US, of, American Media Inc, AMI, National Enquirer, FBI, ” Prosecutors, Democratic Rep, New York Democrat Locations: New York, Southern, of New York, Trump’s

☆ A clothing designer says Taylor Swift wearing her skort was the 'ultimate karma' against brands that have ripped her off
▼ + stars: | 2024-04-26 | by ( Amanda Krause | ) www.businessinsider.com time to read: +6 min

Read previewWhen Taylor Swift uploaded a YouTube Shorts video to promote her new album on April 19, Blogilates founder Cassey Ho was getting her roots touched up at a hair salon. AdvertisementBut given their connected history, Ho thinks Swift may have seen one of her promotional videos for the skort. The bigger pictureWhile Ho is ecstatic about Swift wearing her skort design from the perspective of a business owner and Swiftie, she's also grateful for another reason. Ho also said she's seen new knockoffs popping up now that Swift has been seen wearing the original. But in the meantime, she said, Swift wearing the original feels like the "ultimate karma" against shops that have stolen her work — something Swift herself is deeply familiar with.

Persons: —, Taylor Swift, Cassey Ho, Sam, pickleball, Ho, Swift, Taylor, It's, Popflex, i Organizations: Service, Business, Poets Department Locations: preorders

☆ Meta to report first-quarter results after the bell
▼ + stars: | 2024-04-24 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Meta will report first-quarter results after the bell Wednesday. Revenue: $36.16 billion, according to LSEG. $36.16 billion, according to LSEG. Analysts expect Meta to report a 26% increase in revenue from $28.65 billion a year earlier. Analysts at Baird said in a Monday note that slower spending from China-based advertisers could be a source of concern in the first-quarter results.

Persons: Meta, Mark Zuckerberg, Zuckerberg, Susan Li, Baird Organizations: StreetAccount, Meta, Facebook Locations: LSEG, China

☆ TikTok's time in the US could soon be on the clock, and that's not the app's only problem
▼ + stars: | 2024-04-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

The big storyTick-tock on TikTokChelsea Jia Feng/BITikTok's time in the US could soon be on the clock. When it's all said and done, a TikTok ban could be in place before the week's end. Business Insider's Peter Kafka explains why the TikTok ban, while more imminent than ever, still has a long way to go . A TikTok ban would benefit one familiar face in social media, though, writes BI's Katie Notopoulos . YouTube Shorts, too, stand to grab more attention after a TikTok ban.

Persons: —, Caitlin Clark's, Chelsea Jia Feng, ByteDance, Joe Biden, it's, Business Insider's Peter Kafka, Michael Beckerman, TikTok, hawking, BI's Lindsay Dodgson, outperforming, Katie Notopoulos, Merrill Lynch, Tyler Le, Andy Sieg's, Merrill, Lindsay Hans, Eric Schimpf, It's, Steve Cohen's, Grzegorz Wajda, Hokyoung Kim, Nordstrom, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Nike, Bloomberg Intelligence, YouTube, Big Tech, New York Stock Exchange, NYSE, Chelsea, Getty, Walmart, BI, Costco, Amazon, Motors, Spotify Locations: Americas, TikTok, Merrill, China, American, New York, London

☆ Meta Platforms gets billions from China without headaches many U.S. companies face there
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

As many American companies struggle to navigate the world's second-largest economy, Meta Platforms has found itself raking in billions of dollars from China without the direct challenges of doing business there. The influx in spending from Chinese ecommerce advertisers has been a "significant positive" for Meta, said Rohit Kulkarni, analyst at Roth MKM covering internet companies. Many American companies doing business in China have battled similar challenges as the post-Covid recovery there has progressed slower than expected. Meta has said it has a "diverse advertiser base" of Chinese companies. The concern is that as more Chinese advertisers target American consumers through Meta's platforms, that could drive up the price of ads for everyone.

Persons: Temu, Rohit Kulkarni, Roth, Meta's, Piper Sandler, Tom Champion, Estee Lauder, Meta, Susan Li, Shein, Kate Scott, Dawkins, —, Roth's Kulkarni, Piper Sandler's, they're, Josh Silverman, we're, Piper, doesn't, Jim Cramer's, Jim Cramer, Jim, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Club, Super, U.S, Meta, Apple, Facebook, Tencent, Holdings, Nasdaq, CNBC, Wall Street, Google, European Commission, AFP, Getty Locations: China, Ireland, Shanghai, Singapore, U.S, Meta, Brussels

☆ TikTok Shop is second only to Amazon in a key measure of customer loyalty
▼ + stars: | 2024-04-17 | by ( Madeline Stone | Dan Whateley | ) www.businessinsider.com time to read: +3 min

Earnest, which tracks credit-and-debit-card transactions, found that around 27% of TikTok shoppers came back to make another purchase after five months of their first buy. On this measure, TikTok Shop outperformed other e-commerce platforms, including Temu, Shein, and Etsy, as well as fellow social-commerce channels Whatnot, Flip, and Instagram Checkout. Amazon was the only e-commerce platform that beat TikTok Shop in Earnest's dataset, which looked at customer-retention data between January 2022 and February 2024. "The second I bought my first TikTok Shop product, which was probably a year and a half ago, from that moment on, I started to get more TikTok Shop content." TikTok Shop seems to have become a place for impulse purchases, as well.

Persons: Michael Maloof, Temu, TikTok, Maloof, —, they've, Nicole Rechtszaid Organizations: Walmart, Business, Facebook, Ghost Agency

☆ TikTok Shop is better at keeping customers than Temu and Shein
▼ + stars: | 2024-04-16 | by ( Madeline Stone | Dan Whateley | ) www.businessinsider.com time to read: +3 min

TikTok seems to be doing a good job of getting customers to make multiple purchases on its new shopping platform, Shop, according to data from Earnest Analytics. Earnest, which tracks credit-and-debit-card transactions, found that around 27% of TikTok shoppers came back to make another purchase after five months of their first buy. On this measure, TikTok Shop outperformed other e-commerce platforms, including Temu, Shein, and Etsy, as well as fellow social-commerce channels Whatnot, Flip, and Instagram Checkout. Amazon was the only e-commerce platform that beat TikTok Shop in Earnest's dataset, which looked at customer-retention data between January 2022 and February 2024. "The second I bought my first TikTok Shop product, which was probably a year and a half ago, from that moment on, I started to get more TikTok Shop content."

Persons: Michael Maloof, Temu, TikTok, Maloof, —, they've, Nicole Rechtszaid Organizations: Walmart, Business, Facebook, Ghost Agency

☆ ‘Brandy Hellville’: A New Twist for Cult Documentaries
▼ + stars: | 2024-04-12 | by ( Alissa Wilkinson | ) www.nytimes.com time to read: +1 min

What’s most provocative about “Brandy Hellville & the Cult of Fast Fashion” (streaming on Max), and about the horror show it contends is behind the immensely popular cheap-clothing retailer Brandy Melville, isn’t necessarily its content. Other documentaries have tread similar ground with similar methods — the Netflix documentary “White Hot: The Rise & Fall of Abercrombie & Fitch,” for instance — which is to say that everything in “Brandy Hellville” has been reported before. Documentary participants allege that the company and its leaders, especially co-founder and owner Stephan Marsan, engaged in a host of terrible behaviors ranging from fat-shaming and exploitative practices to really awful racism and sexism. You can read about it all, of course; what the documentary provides is a host of eyewitnesses, including girls who worked in the store as teenagers and men who worked closely with the company to open new stores. Experts and activists also attest to the threat that fast fashion (that is, inexpensive, essentially disposable clothing sold at retailers like Zara, H&M, Shein and Forever 21) poses to global economies and the environment.

Persons: Brandy Hellville, Brandy Melville, isn’t, Abercrombie &, ”, Brandy Hellville ”, Stephan Marsan, Abercrombie Organizations: Netflix, Abercrombie, Abercrombie & Fitch Locations: Zara

☆ Inside Andy Jassy's plan for Amazon in the generative AI era
▼ + stars: | 2024-04-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. By the way, we're wrapping up voting for the championship matchup in our business, tech, and innovation bracket. In today's big story, we're looking at Amazon CEO Andy Jassy's letter to shareholders, which details the tech giant's plan in the age of generative AI . What's on deck:AdvertisementBut first, Amazon, AI, and a letter. The big storyAmazon in the AI ageMichael M. Santiago/Getty Images; Chelsea Jia Feng/BIThe generative AI revolution is coming, and Amazon wants in on the ground floor.

Persons: —, We've, Andy Jassy's, Michael M, Chelsea Jia Feng, Andy Jassy, Ana Altchek, Jassy, that's, Andy Jassy Mike Blake, Eugene Kim, Jassy's, Phillip Faraone, Gregor Fischer, Noam Galai, Here's, it's, Morgan Stanley, Ben Bergman, Rebecca Zisser, Adam Neumann, Neumann, Samantha Lee, Bon Appétit, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Amazon, Getty, AWS, Bridgewater Associates, Pfizer, Reuters, Prime, TechCrunch, Games, New York Times, Visual China, BI, JPMorgan Chase, Citigroup, Coachella Locations: Wells Fargo, New York, London

☆ Amazon's two key businesses get bullish updates. No wonder its stock is at multiyear highs
▼ + stars: | 2024-04-05 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

While Microsoft Azure's reported 30% year-over-year revenue growth and Alphabet's Google Cloud posted 26% annual revenue growth during the same period, Amazon's results nevertheless indicated the softness in cloud spending is rolling over. Amazon said it expects accelerating AWS revenue trends to continue in 2024, which is good news for the stock. In a poll of more than 1,000 U.S. consumers about their expected spending, Amazon remains the preferred e-commerce destination "by a wide margin." Another encouraging finding in the Wedbush survey: Amazon Prime members said they are seeing "modest improvements" in their experiences, with 39% saying they received an order on the same or next day. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Microsoft Azure's, Adam Selipsky, Jim Cramer, —, Jim Cramer's, Jim, Alain Jocard Organizations: Mizuho Securities, Web, Enterprises, Microsoft, Google, AWS, Wedbush Securities, Walmart, Target, Amazon, CNBC, AFP, Getty Locations: Mizuho, Amazon's, U.S, Wedbush's

☆ Trader Joe's is accused of ripping off smaller food brands
▼ + stars: | 2024-04-03 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

In return for private labeling her product for Trader Joe's, she was told she would receive a modest finder's fee based on the co-packer's profits—not a percentage of Trader Joe's sales. After sharing samples with the co-packer and sending a counteroffer asking for greater transparency, she never heard back from him or from Trader Joe's. The small brand owners said that Trader Joe's tactics were unlike Costco or other big chains that do private labeling. Trader Joe's did not immediately respond to a request for comment from Business Insider. AdvertisementI love shopping at Trader Joe's not only because it has good prices on staples, but fun new items to try.

Persons: —, Joe's, Joe, Stacy's pita, pita, Tribe, Abraham, packer Organizations: Service, Joe's, Costco, Business Locations: Brooklyn Delhi, California, Zara

☆ Shein made $2 billion in profits last year. That's a lot of fast fashion.
▼ + stars: | 2024-04-01 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

That beats the fiscal year of rival fast fashion company H&M. AdvertisementIt appears we consumed quite a bit of fast fashion last year. AdvertisementFor a generation of shoppers who say they like to be environmentally conscious, that's a lot of fast fashion — an industry that relies on cheap labor but comes with a heavy environmental cost. Still, it was a recognition from the fast fashion giant that it knows who its audience is and what they care about. But for now, it's onward and upward for fast fashion.

Persons: Zers, millennials, —, Barron's, It's, Shein, Janus, Jadrian Wooten Organizations: Service, Financial Times, United Nations Environment, New, Virginia Tech, Sheffield Hallam University, & $ Locations: Zara, England, Guangzhou, China

☆ Op-ed: The effusive China tour is a failing playbook for Apple, Tim Cook, and every CEO
▼ + stars: | 2024-03-27 | by ( Dewardric L. Mcneal | ) www.cnbc.com time to read: +8 min

This ritual, epitomized by high-profile engagements — such as Apple CEO Tim Cook's effusive overtures and statements of commitments to China — signals that American corporate titans think the strategy can still work. Tim Cook's narrative of China as "critical" to Apple , coupled with his admiration for the country's advanced manufacturing capabilities, embodies the ethos of this engagement playbook. Apple's Chief Executive Officer Tim Cook attends the China Development Forum in Beijing on March 24, 2024. It's not that the Apple CEO is doing anything wrong. Chinese Apple superfans jostled to enter the smartphone maker's newest store as it opened on March 21 night.

Persons: Tim Cook's, Tim Cook, Pedro Pardo, Jim McNerney, Xi Jinping's, Mark Zuckerberg, Deirdre O'Brien, Strstr, Xi, Xi Jinping, Li Qiang Organizations: Apple, American, titans, U.S, Apple's, China Development Forum, AFP, Getty, Boeing, Airbus, Volkswagen, Qualcomm, Google, Facebook, Huawei, Afp Locations: China, Beijing, Weibo, Shanghai

☆ H&M shares jump 14% as profit smashes expectations
▼ + stars: | 2024-03-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

(Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)Shares of H&M leapt 14% in early deals on Wednesday, after the Swedish retailer significantly beat profit expectations for its fiscal first quarter. Operating profit rose to 2.08 billion Swedish krona ($196 million), versus the 1.43 billion krona forecast in a LSEG poll of analysts. The company's operating margin rose to 3.9% from 1.3%, as it reiterated its target of a 10% operating margin this year. Net sales fell year-on-year in the first quarter, hitting 53.7 billion krona from 54.9 billion krona. Credibility was lent to the company's 10% operating margin target by positive sales momentum in the early spring/summer season, the Jefferies note added.

Persons: Budrul Chukrut, Inditex, Daniel Ervér, Helena Helmersson, Ervér, Jefferies Organizations: Getty, M Locations: HONG KONG, CHINA, Swedish, Hong Kong, Zara

☆ Thrifting is more popular than ever. It's also never been worse.
▼ + stars: | 2024-03-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +12 min

The explosive growth of the resale market and the rise of fast fashion are partly to blame. It's a high that anyone who shops at thrift stores knows — and one that I've been chasing since high school. lechatnoir/Getty ImagesGen Z made thrifting mainstreamBuying used clothing has never been more popular, largely thanks to Gen Z. Still, even as thrifting has grown in popularity, so have fast fashion brands. "Fifteen years ago you would've seen the majority of your secondhand shoppers were most likely more need-based," she said.

Persons: Thrifting, Gen Z, —, I've, Nicole Craig, Arizona State University FIDM, we're, ThredUp, Z, Gen, Danielle Testa, thrifting, millennials, Abercrombie, Craig, Elena Karpova, Testa, Brittany Dickinson, Oleg Cassini, Prada, Jeffrey Greenberg, there's, Dickinson, we've Organizations: Service, Arizona State University, Goodwill, Salvation Army, Fitch, University of North, Goodwill Industries International, Universal, eBay, Urban Outfitters, Free Locations: University of North Carolina, Greensboro, Hendersonville , North Carolina

☆ 5 products for kids you should avoid buying on Temu and how to find safe alternatives, according to a pediatrician
▼ + stars: | 2024-03-15 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

A pediatrician says there are five kinds of products you shouldn't buy and shares advice on finding safe, affordable alternatives. Advertisement"If you're buying, you have to understand you're not getting all the safety and quality that you can get from other retailers," Shapiro said. StrollersLike cribs, strollers are subject to recall in the US, as well as safety regulations. When you're buying from a reputable retailer that's subject to US regulations, more expensive doesn't necessarily mean safer, he noted. "Because it's cheaper doesn't mean that it's better, or worse," as long as it meets safety regulations, Shapiro said.

Persons: —, Ilan Shapiro, Shapiro, it's, haven't Organizations: Service, AltaMed Health Services, Consumer Product Safety, Seattle Children's Hospital, Juvenile Products Manufacturers Association Locations: China, headrests, Seattle

☆ Temu has officially opened to US-based sellers in a strategy shift that could help it compete more closely with Amazon
▼ + stars: | 2024-03-15 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Read previewTemu has opened its marketplace to sellers with US-based warehouses, marking a shift to its strategy that has focused on shipping orders from China. Business Insider previously reported that US Amazon sellers were largely eager to try selling on Temu once it was made available to them. Offering faster shipping options could help Temu to better compete with US e-commerce incumbents like Amazon. The company's use of de minimis shipments has gotten increased attention from US lawmakers as of late. Shein, another China-linked e-commerce marketplace, also began onboarding US merchants last year.

Persons: —, Temu, Brightever, Bernstein, De minimis, Earl Blumenauer, Neal Dunn, Dan Bishop, Shein Organizations: Service, Pinduoduo Holdings, Business, US, US Customs Locations: China, Palm Springs, Las Vegas

☆ A wardrobe consultant says the No. 1 item you should invest in is a quality T-shirt
▼ + stars: | 2024-03-15 | by ( Mykenna Maniece | ) www.businessinsider.com time to read: +4 min

Wardrobe consultant Kenzie Welch encourages her clients to invest in quality T-shirts. She recommends the Tomboy Tee, which usually retails for around $50, from Cuts Clothing. But fashion stylist and wardrobe consultant Kenzie Welch told Business Insider the No. 1 item she always tells her clients to invest in is a great quality T-shirt. "I do think that sometimes there's some value in having less but spending a little more," she added.

Persons: Kenzie Welch, Tee, Patrick Mahomes, AdWeek, Welch, I've, there's, you've, it's Organizations: Service, Business Locations: Atlanta, Instagram, Los Angeles

☆ French lawmakers approve bill penalizing fast fashion
▼ + stars: | 2024-03-15 | by ( Oscar Holland | Reuters | ) edition.cnn.com time to read: +3 min

Reuters —France’s lower house of parliament on Thursday approved a bill seeking penalties on ultra-fast fashion products, sold by companies like China’s Shein, aimed at helping to offset their environmental impact. All voting lawmakers unanimously approved the bill, which will head to the senate before it can become law. Jade Gao/AFP/Getty ImagesThe bill comes as the French environmental ministry said it would propose a European Union ban on exports of used clothes, in a bid to tackle the worsening problem of textile waste. At the time, the country’s ministry of ecology said that French people throw away 700,000 tons of clothes — two-thirds of which ends up in landfills — each year. Among the world’s most polluting industries, fashion accounts for between 3% and 5% of global carbon emissions, according to consultancy McKinsey’s State of Fashion report.

Persons: CNN Shein, Christophe Béchu, Jade Gao Organizations: Reuters, CNN, Workers, Getty, McKinsey’s State Locations: Zara, China's, Guangdong, AFP, McKinsey’s

☆ Amazon plans 'Big Spring Sale' that's not just for Prime members starting March 20
▼ + stars: | 2024-03-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon will host a spring sale next week with discounts on seasonal items, and this one is not restricted to Prime members. Amazon said Thursday that the event, which it's calling the "Big Spring Sale," will run for six days starting March 20, in North America. Unlike the Prime Day discount bonanza typically held in the summer, next week's event will be open to shoppers who don't pay for a Prime membership. The subscription program costs $139 per year, or $14.99 a month, in the U.S., and perks include free, speedy shipping; video streaming; and access to exclusive Prime Day deals. The company is launching its spring event as shoppers, grappling with high inflation, remain hungry for discounts.

Persons: Amazon Organizations: Amazon, U.S . Department of Labor Locations: Robbinsville , New Jersey, North America, U.S

☆ If the US bans TikTok, China will be getting a taste of its own medicine
▼ + stars: | 2024-03-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

But American apps have long been barred in China. “The TikTok bill appears likely to become law and China’s displeasure seems ironic, if not hypocritical, given its stance toward American social apps,” said Brock Silvers, managing director at Kaiyuan Capital. The Chinese government has said it strongly opposes a forced sale of TikTok, and it has the legal ability to do so. A man walks past the headquarters of ByteDance, the parent company of TikTok, in Beijing. “While China has completely banned [these] American apps, TikTok enjoys all the benefits of America’s free and open legal and political systems,” he said.

Persons: Hong Kong CNN — TikTok, ByteDance doesn’t, Wang Wenbin, ”, Brock Silvers, Wang, Joe Biden, TikTok, CNN Beijing’s, Trump, Greg Baker, “, Winston Ma, Silvers, Alex Capri, Craig Singleton, “ We’ve, ” Capri Organizations: Hong Kong CNN, US, Foreign Ministry, Google, Kaiyuan, Chinese Commerce Ministry, ByteDance, Trump, CNN, Commerce Ministry, Getty, New York University School of Law, Foundation, National University of Singapore Business School, Foundation for Defense of Democracies, Weibo, Twitter, Facebook Locations: China, Hong Kong, United States, Beijing, TikTok, ByteDance, AFP, Washington, Washington , DC

☆ That security camera and smart doorbell you’re using may have some major security flaws
▼ + stars: | 2024-03-09 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +11 min

… I’m completely done with smart devices like that.”24-year-old Heather Hines is among the Wyze users whose personal camera footage was viewed during a recent security breach. Henderson, who owns 10 Wyze cameras, said he is starting to replace them with other brands. It also raises the question about whether the value of smart devices is worth the risks. Amazon and Google have experienced security breaches with Ring and Nest security devices in recent years. People can also reconsider how many smart devices they actually need in the home.

Persons: Heather Hines, Hines, ”, “ I’m, ” Hines, I’m, Eddie Henderson, Henderson, Dave Cosby, Tuck, Paddy Harrington, That’s, Michela, Michela Menting, “, ” Harrington, It’s, you’ve, they’ll, ” Menting Organizations: CNN, Wyze, Consumer, Amazon, Walmart, Sears, Federal Communications Commission, US, Forrester Research, Attackers, Google, ABI Research, Consumer Product Safety, White, FBI Locations: Southern California, Nova Scotia, Canada, China, ” Haddington

☆ Labor unions, domestic manufacturing groups launch coalition to reform de minimis import loophole
▼ + stars: | 2024-03-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

-WASHINGTON — Labor unions, domestic manufacturers, business associations and other interest organizations on Wednesday announced a bipartisan coalition to target an import loophole allowing billions of un-taxed goods into the U.S."The coalition we have assembled is a testament to the mounting pressure to close the de minimis loophole," Rep. Earl Blumenauer, D-Ore., said. The ranking member of the House Ways and Means Subcommittee on Trade is working in conjunction with the new Coalition to Close the De Minimis Loophole. CBP said it processed over 1 billion de minimis shipments in FY '23, according to a report last modified on March 1. The company has been valued at over $66 billion according to a November report, while PDD reported third-quarter revenue of $9.44 billion that month. "Our industry has lost astonishingly 10 plants in five months as a result of the de minimis loophole," Glas told reporters.

Persons: Rep, Earl Blumenauer, minimis, Blumenauer, Mike Gallagher, Gallagher, Neal Dunn, Sherrod Brown, Marco Rubio, Dunn, Dan Bishop, Rosa DeLauro, Conn, Shein, PDD, Kim Glas, Glas Organizations: Port, WASHINGTON — Labor, Wednesday, Trade, Coalition, Chinese Communist Party, U.S . Customs, CBP, CNBC, House CCP Committee, PDD Holdings, National Council of Textile Organizations, AFL, Alliance for American Manufacturing, Coalition for, Prosperous Locations: China, Port of Los Angeles, Long Beach , California, U.S, United States, Sens, Ohio, Singapore, Prosperous America

☆ Big American Tech Profits From Chinese Ad Spending Spree
▼ + stars: | 2024-03-06 | by ( Daisuke Wakabayashi | Mike Isaac | ) www.nytimes.com time to read: +1 min

Temu, the international arm of the Chinese e-commerce giant Pinduoduo, is flooding Google with ads for absurdly inexpensive goods. With an initial public offering looming, the fast-fashion merchant Shein is inundating Instagram with ads for clothes and accessories at rock-bottom prices. Developers of China’s video streaming and gaming apps are dumping marketing dollars into Facebook, X and YouTube to entice potential users. In the last year, Temu has placed about 1.4 million ads globally across Google services, and at least 26,000 different versions of ads on Meta, according to Meta’s Ad Library. “You can’t escape their ads across Facebook, Instagram and Google Search.”

Persons: Shein, Temu, ”, Canaves Organizations: Facebook, YouTube, Google, Meta, Ad Locations: China, United States, eMarketer

☆ Gen Zers want you to know they are sick of extravagant influencer brand trips
▼ + stars: | 2024-03-06 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Gen Z is growing disinterested in the extravagant brand trips influencers are sent on. The generation that has grown up with social media says the lavish lifestyles of the internet's rich and famous no longer thrill them. Tarte brand trips are famed in the influencer worldFor years, brand trips have been a way to solidify a company's name among the young people who watch YouTube and scroll TikTok and Instagram. Varbanova said there are some young people — mostly millennials and DINKs — who still see over-the-top, out-of-touch brand trips as aspirational. If Gen Z's spending money is the goal, brand trips are missing the mark.

Persons: influencers, Katya Varbanova, Maureen Kelly, Tarte, Bora, Shein, Tahrea Sherman, Sherman, Phil Treagus, Evans, Influencers, Varbanova, It's, DINKs —, Rather, she'd Organizations: Service, YouTube, Walmart, Giraffe Social Media, BI Locations: Bora Bora, China

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