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☆ 5 things next week that could determine if Wall Street's winning streak continues
▼ + stars: | 2024-02-10 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Wall Street wrapped up another positive week, with the S & P 500 closing Friday above 5,000 for the first time ever. It was a pretty light week in terms of economic data releases, though we did get a favorable ISM Services number on Monday. Things will pick up next week with several closely watched macroeconomic updates, including two key government inflation reports. While no Club earnings are scheduled to report earnings in the week ahead, 61 companies in the S & P 500 will deliver their latest quarterly results. Consumer inflation: The main event of the week will come on Tuesday when the January consumer price index (CPI) is released.

Persons: Estee Lauder, Eli Lilly, Price, Bausch, Trimble, Krispy Kreme, Topgolf, Kraft Heinz, Martin Marietta, Owens Corning, WEN, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Club, GE Healthcare, DuPont, Linde, Ford, Disney, Wynn Resorts, CPI, PPI, Palo Alto Networks, Nvidia, Bausch Health, Arista Networks, WM, Cadence Design Systems, ZoomInfo Technologies, Avis Budget, Brighthouse, Goodyear Tire &, Vornado Realty, Marriott International, Hasbro, Restaurant Brands, Molson Coors Beverage, Holdings, MGM Resorts, MGM, Akamai Technologies, American International Group, AIG, Topgolf Callaway Brands, CME Group, Sony, SONY, Blackstone Mortgage Trust, Martin Marietta Materials, Ryder, Occidental Petroleum, Cisco Systems, Deere, Penn Entertainment, Southern Company, Coinbase, Trade, Materials, Rand, Texas, Housing, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Albemarle, ALB, Ingersoll, New York City

☆ Walmart offered to pay Spark drivers as little as 52 cents per order after a 'temporary' app issue
▼ + stars: | 2024-02-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Walmart offered some Spark drivers as little as 52 cents to deliver orders to customers' homes. AdvertisementWalmart offered to pay some Spark delivery drivers as little as 52 cents to deliver groceries and other merchandise from its stores to customers' doorsteps after "a temporary issue" in its app. A screenshot from the Spark app shows an offer that pays 52 cents. But some Spark drivers have reported being shut out by the feature despite using accounts in their own names. Do you work for Walmart Spark, Instacart, DoorDash, or another gig delivery service and have a story idea to share?

Persons: — Organizations: Walmart, Service, Business, Pay, Georgia Spark Locations: Texas, New Mexico, Georgia

☆ I'm a gig worker who argued for Seattle's new minimum pay laws. Now, I'm fighting for my Instacart job.
▼ + stars: | 2024-02-03 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

This as-told-to essay is based on a conversation with Michelle Balzer, an Instacart driver in Seattle. Balzer was among those who advocated for PayUp, a series of bills meant to protect gig workers passed by Seattle's city council. One of the laws, which requires companies like Instacart to pay contractors the equivalent of the city's $19.97-an-hour minimum wage, took effect on January 13. An Instacart spokesperson told BI: "Due to new regulations imposed by the Seattle City Council, we're making several changes to how Instacart operates in Seattle. AdvertisementDo you work for Instacart, DoorDash, Walmart Spark, or another gig work app and have a story idea to share?

Persons: Michelle Balzer, Balzer, I've, Instacart, PayUp, It's Organizations: Service, PayUp, Business, Shoppers, Seattle, Seattle City Council, Safety, Walmart Locations: Seattle, Seattle's, Pacific Northwest, PayUp, Instacart, Washington, DoorDash

☆ A year after bankruptcy concerns, Carvana is leaner and ready for its Wall Street redemption
▼ + stars: | 2024-02-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

Carvana over the last 18 months aggressively restructured its operations and debt amid bankruptcy concerns to pivot from growth to cost-cutting. Carvana puts each vehicle it intends to sell through a lengthy inspection, repair and sale preparation process. A Ford F-150 is prepped for a painting booth at Carvana's vehicle reconditing center outside Phoenix. The Wall Street Journal in December 2021 detailed a network of Garcia companies that do business with DriveTime, Carvana or both. Carvana sells such warranties or other service-related protections to customers, and DriveTime takes them over, giving Carvana a commission.

Persons: Michael Wayland, Ernie Garcia III, Ernie Garcia II, Garcia, Carli, Carvana, There's, Richard, Dick, Nixon, there's, Ernie Garcia, pathing, Rajat Gupta, Doug Guan, we've, CNBC Guan, Coldplay, Neil Diamond, Teresa Aragon, DriveTime, Duckling, Garcia II, Charles Keating's Lincoln, hasn't, – Organizations: CNBC PHOENIX, CNBC, Ford, Ford Motor, Nissan, State, Charles Keating's Lincoln Savings & Loan, Street Journal, DriveTime Locations: Tempe, Ariz, Tempe , Arizona, Phoenix, Carvana, Florida, reconditioning, Silicon Valley, Aragon, DriveTime, Drivetime

☆ Walmart's facial ID tool to combat fraudulent Spark delivery drivers is kicking legitimate workers off the app
▼ + stars: | 2024-02-02 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

BI spoke with another Walmart Spark worker who said they were deactivated immediately after trying to complete the identity verification late last year. AdvertisementGig workers for apps like Spark, Instacart, DoorDash, and Grubhub often have their accounts suspended with little notice or explanation. The rollout comes after some Walmart Spark drivers were found using multiple accounts under false identities to claim more orders and make more money. "The third-party identity verification tool is working as intended. "My account was deactivated after the identity verification," one post from November on r/Sparkdriver reads.

Persons: Chastity Lopez, Lopez, she's Organizations: Walmart, Drivers Locations: New York, Alabama

☆ AI lobbying spikes nearly 200% as calls for regulation surge
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

The spike in AI lobbying comes amid growing calls for AI regulation and the Biden administration's push to begin codifying those rules. Until 2017, the number of organizations that reported AI lobbying stayed in the single digits, per the analysis, but the practice has grown slowly but surely in the years since, exploding in 2023. The data showed a range of industries as new entrants to AI lobbying: Chip companies like AMD and TSMC , venture firms like Andreessen Horowitz, biopharmaceutical companies like AstraZeneca, conglomerates like Disney and AI training data companies like Appen. Organizations that reported lobbying on AI issues last year also typically lobby the government on a range of other issues. In its Request for Information, the Institute specifically asked responders to weigh in on developing responsible AI standards, AI red-teaming, managing the risks of generative AI and helping to reduce the risk of "synthetic content" (i.e., misinformation and deepfakes).

Persons: OpenSecrets, Biden, ByteDance, Andreessen Horowitz, government's, — CNBC's Mary Catherine Wellons, Megan Cassella Organizations: CNBC, Spotify, Samsung, Nvidia, Big Tech, AMD, U.S . Department of Commerce's National Institute of Standards, Technology, NIST Locations: U.S

☆ I shopped the same grocery list online and in-store—one option saved me nearly $70
▼ + stars: | 2024-02-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

I then came home and added all the same items to my virtual cart on Wegmans' Instacart storefront to see how much I'd saved by doing the shopping myself. Why delivery costs moreMy delivery order would have been more expensive for a couple of reasons. Other retailers available to me offer the same prices online as in-store, but my allegiance to Wegmans keeps me coming back. "Our online prices remain about 15% above in-store prices. Second, Instacart charges a service fee and a delivery fee, and I always tip at least 20%.

Persons: it's, Wegmans Organizations: Trader Joes, CNBC Locations: Instacart, It's, Manhattan, New York City, Brooklyn, Wegmans

☆ DoorDash raises fees for NYC deliveries after warning that a new minimum wage law would hit customers
▼ + stars: | 2024-02-01 | by ( Jordan Hart | Alex Bitter | ) www.businessinsider.com time to read: +2 min

DoorDash followed through with its claim that delivery orders in New York City would be hit with increased fees. All customers placing orders in New York City will start seeing that fee on Friday in response to new minimum wage rules in the city, a DoorDash spokesperson confirmed to Business Insider. DoorDash warned customers that fees would increase due to these rules. Referring to the Regulatory Response Fee in Seattle, DoorDash said in a statement on January 13 that it helped "cover the costs of these new regulations. AdvertisementUber Eats has added similar fees to orders in New York and Seattle with the advent of those cities' laws.

Persons: DoorDash, Uber, we're, abitter@businessinsider.com Organizations: Business, Seattle, Target, Workers, Walmart Locations: New York, New York City, Seattle, Instacart

☆ Instacart quietly deletes its unsettling AI-generated food pics
▼ + stars: | 2024-01-31 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +3 min

Instacart confirmed on Sunday it was using AI-generated imagery and recipes. The AI images featured physically impossible compositions, unnatural shadows, and strangely blended textures. Other recipes discovered by Reddit users, meanwhile, had the AI-generated images replaced with what appears to be stock photography. Some AI-generated imagery was still live on Instacart's site as of Wednesday. A startup is using text-to-photo technology to create AI imagery based just on menu descriptions to help restaurants build out online menus without paying for photography.

Persons: Instacart, —, Fry, Instacart Instacart Organizations: Service, Mac

☆ Kroger, Albertsons, and Instacart are all racing to snap up an $11 billion chunk of the retail media market
▼ + stars: | 2024-01-30 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

Offsite ads currently make up about 15% of retail media spend and are expected to make $11 billion this year, according to Insider Intelligence, increasing to $24 billion by 2027. Kroger works with adtech firms like Magnite, PubMatic, and OpenX to sell streaming ads targeted with retail data. Retailers are riding the death of cookies and streaming TVBy increasing the audiences that see their ads, retailers are betting they can seize two major opportunities. "When cookies come out of the marketplace, where retail media shines is that we all offer large audiences of real people doing real things," said Kristi Argyilan, SVP of retail media at Albertsons Companies. Using retail data, they can target specific groups — like moms who buy specific products at the grocery store every week.

Persons: —, It's, Andrew Lipsman, Roku, Kroger, Lipsman, Kristi Argyilan, Cara Pratt Organizations: Service, Intelligence, Business, Walmart, Brands, Albertsons Companies, Disney, Kroger Precision Marketing

☆ Here are Tuesday's biggest analyst calls: Amazon, Tesla, Goldman Sachs, Meta, Salesforce, Boeing, Spotify & more
▼ + stars: | 2024-01-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan initiates Light & Wonder as outperform JPMorgan initiated the Australian gambling company with an overweight and said it has earnings momentum. Evercore ISI reiterates Meta as outperform Evercore said it's bullish on Meta heading into earnings later this week. " Evercore ISI reiterates Amazon as outperform Evercore said it's bullish heading into Amazon earnings later this week. We are upgrading Bank of America (BAC) to OW from EW, upgrading Citigroup (C) to OW from UW, upgrading Goldman Sachs (GS) to OW from EW, and upgrading BNY Mellon (BK) to EW from UW. Bank of America reiterates Uber as buy Bank of America raised its price target on the stock to $73 per share from $68.

Persons: Oppenheimer, Raymond James, CrowdStrike, Mizuho, Evercore, it's, Morgan Stanley, Instacart, Morgan, Goldman Sachs, Raymond James downgrades, McDonald's, Wells, Baird, Tesla, TSLA, BTIG, Jefferies, Masimo, MASI, Uber Organizations: Accenture, Mizuho, JPMorgan, Morgan Stanley, Bank of America, Citi, Citigroup, BNY Mellon, BK, UW, Trust, AMD, Salesforce Inc, UBS, Spotify, sss, Western Alliance, WAL, Boeing, Olema Oncology, Breast Cancer, " Bank of America, Netflix, Seaport Locations: OW, UW, Wells Fargo

☆ You might be paying twice as much by ordering takeout food on DoorDash or Postmates, new study says
▼ + stars: | 2024-01-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Besides tips and service fees, restaurants often also charge higher menu prices for delivery orders. AdvertisementOrdering takeout food for delivery might cost you twice as much as picking it up yourself, depending on the delivery service you use, according to a new study. AdvertisementFinanceBuzz compiled its data by ordering food from various national restaurant chains on DoorDash, Grubhub, Postmates, and Uber Eats. Delivery orders from the fried chicken chain were between 82% and 149% more expensive than pickup, depending on which delivery service customers ordered from. AdvertisementDo you work for Instacart, DoorDash, Walmart Spark, or another delivery service and have a story idea?

Persons: —, FinanceBuzz, DoorDash, Grubhub, Uber, Gruhub Organizations: Service, Uber, Panda Express, Walmart Locations: Southern California, DoorDash

☆ Reddit may be targeting a $5 billion valuation for its upcoming IPO
▼ + stars: | 2024-01-28 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

The success of the IPO is contingent in part on the state of the IPO market, which has struggled in recent years. When Reddit first began preparing to go public in late 2021 — a record-breaking year for venture capital — some thought the company could be valued as high as $15 billion in an IPO. Investors are hoping that 2024 will be a more active year for the IPO market. This year's IPO market may also be helped by the Fed's promised rate cuts and a weak M&A market. The last time a social media company went public was in 2019.

Persons: Reddit, —, IPOs, Klaviyo, Steve Huffman, Alexis Ohanian, Aaron Swartz, Condé Nast, Ohanian, Huffman Organizations: Service, Bloomberg, Business, Investors, University of Virginia

☆ Instacart is using AI art. It's incredibly unappetizing.
▼ + stars: | 2024-01-28 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +4 min

In May 2023, Instacart announced it was partnering with OpenAI to create an "Ask Instacart" AI model that would allow users to ask Instacart questions about what to make for dinner. In that press release, it did not disclose that it would also be adding AI recipes to the site too. AdvertisementMultiple companies have been accused of or admitted to using generative AI imagery in the past year. Reuters reported that large advertising agencies are using generative AI art in advertisements. Wizards of the Coast, a gaming company, apologized after it was caught using generative AI in some advertisements.

Persons: Fry, Instacart, OpenAI Organizations: Service, Business, Reuters

☆ Instacart wants to turn grocery shopping into 'Pokémon GO' to get you to buy more using smart carts
▼ + stars: | 2024-01-27 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Instacart is trying to gamify grocery shopping with its Caper smart carts, an executive said. AdvertisementInstacart is trying to get you to buy more at the grocery store when you use one of its screen-equipped shopping carts — by turning shopping into a game. The company's Caper carts can show shoppers ads or discounts for products based on their buying habits, Instacart has said. McIntosh told Grocery Dive that customers spend around 30 minutes in front of the cart's screen during a visit. "We really believe that it's going to be the future of grocery shopping," CEO Fidji Simo told Bloomberg at the time.

Persons: Instacart, —, David McIntosh, McIntosh, financials Instacart, Fidji Simo Organizations: Service, Connected, Bloomberg

☆ Klarna to debut $7.99 monthly plan as buy now, pay later firm seeks new revenue sources ahead of IPO
▼ + stars: | 2024-01-24 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Swedish fintech firm Klarna is launching a monthly subscription plan in the U.S. to lock in its heaviest users ahead of an expected initial public offering this year, the company told CNBC. Buy now, pay later services such as Klarna and Affirm have surged in popularity in recent years as more Americans rely on a new, fintech-enabled form of credit. When Klarna users shop outside the firm's network of 500,000 retailers — at places such as Walmart, Target, Amazon and Costco — they pay $1 to $2 in transaction fees. "The main proposition of Klarna Plus right now is that you don't pay any service fees," Sandstrom said. "So if you love Klarna and if you love shopping at Target and Walmart, it makes a ton of sense financially."

Persons: David Sandstrom, Sandstrom Organizations: Swedish, CNBC, Nike, Instacart, Walmart, Target, Costco Locations: U.S, Stockholm

☆ Why is your grocery delivery taking so long? Your driver has 2 other deliveries.
▼ + stars: | 2024-01-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Delivery apps like Instacart and Walmart Spark often 'batch' orders together. Drivers have a choice, companies sayBatches have been part of Instacart's strategy for "several years," a company spokesperson told BI. Advertisement"Some customers get angry wondering why it's taking so long," the Alabama driver said. Customers give drivers low ratings and pull away tips as a result, the driver told Insider. AdvertisementDo you work for Instacart, Spark, or another delivery service and have a story idea to share?

Persons: —, they'll, Instacart, Uber, commenter Organizations: Walmart, Service, Drivers, Alabama, FedEx, UPS, SEC Locations: Alabama, North Carolina, New York City, Queens, Brooklyn

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, AMD, Home Depot, Western Digital & more
▼ + stars: | 2024-01-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Northland downgrades Advanced Micro Devices to market perform from outperform Northland downgraded the stock mainly on valuation. " Bernstein reiterates Apple as market perform Bernstein said it expects "not great" Apple earnings on February 1. William Blair downgrades Vita Coco to market perform from outperform William Blair said it's concerned about higher costs for the beverage company. Raymond James downgrades Comerica to market perform from outperform Raymond James said the earnings outlook looks too challenging for Comerica. "We are downgrading CMA shares from Outperform to Market Perform and reducing our 2024 EPS estimate to reflect its initial 2024 outlook."

Persons: Bernstein, Hunt, KeyBanc, Key, it's, Morgan Stanley, Oppenheimer, Lowe's, Goldman Sachs downgrades Archer, Daniels, Goldman, Vikram Luthar, William Blair downgrades Vita Coco, William Blair, Wolfe, NiSource, Tesla, Goldman Sachs, Stone, Evercore, Raymond James downgrades, Raymond James Organizations: Bernstein, Pacific, Norfolk, Union Pacific, NSC, UBS, Devices, Northland, AMD, Western, Home Depot, Apple, HSBC downgrades Lululemon, Daniels Midland, ADM, TAM, Airlines, Barclays, Netflix, JPMorgan, Xerox JPMorgan, Raymond James downgrades Comerica, Comerica, CMA Locations: Norfolk Southern, Northland, Brazil

☆ The IPO market should pick up in 2024. Here are the hottest companies set to make their debut
▼ + stars: | 2024-01-20 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

After a tepid year in the IPO market, investors are hopeful 2024 will bring about a return to form. But the IPO market cratered in 2022 after the Federal Reserve's aggressive rate hiking campaign collapsed investor demand for growth stocks. But happier days could be ahead for the IPO market in 2024. According to Linqto's 2024 IPO Sentiment Survey released Thursday, only a little more than half, 52%, of 2,500 traders polled are anticipating a significant recovery in the IPO market this year, suggesting "cautious optimism" ahead. "There's a lot more optimism for the IPO market," said Akshata Bailkeri, head of research at EquityZen, a platform for pre-IPO activity.

Persons: Akshata Bailkeri, Bailkeri, Wilson, EquityZen's Bailkeri, Shein, Shein confidentially, Reddit, that's, Andrew Low Ah Kee, Low Ah Kee, Ah Kee, Skims Skims, Kim Kardashian, Andy Muir, Muir, Jordan Brand, Amer, Roxanna Islam, Troy Gayeski, Gayeski, EquityZen's Organizations: Robinhood, Ford, Amer Sports, CNBC, U.S, Reuters, National Football League, Commerce, Nike, Wilson, FS Investments, U.S . Census, World Bank Locations: Snowflake, IPOs, Silicon, China, Opendoor, U.S

☆ Stocks making the biggest moves midday: Instacart, Spirit Airlines, Marathon Digital and more
▼ + stars: | 2024-01-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Following the ruling, Bank of America downgraded Spirit to an underperform rating, while Susquehanna downgraded the airline to negative. Rivian — The electric vehicle manufacturer slid nearly 8% following a downgrade to a hold rating from Deutsche Bank. Polaris , Mattel — The stocks moved following rating changes from Morgan Stanley. Meanwhile, toymaker Mattel slid 2.8% after Morgan Stanley downgraded shares to equal weight, citing lofty consensus estimates and a tough 2024 outlook. Marathon Digital — The crypto mining firm slid 3% during Wednesday's trading session.

Persons: JetBlue's, Sinclair —, Sinclair, SolarEdge — SolarEdge, Teladoc, Davidson, Nutanix, William Blair, Uber, Ford, Morgan Stanley —, Ted Pick, Morgan Stanley, TD Cowen, Gregory Lewis, —, Alex Harring, Yun Li, Pia Singh, Samantha Subin Organizations: Spirit Airlines, JetBlue Airways —, Bank of America, Susquehanna, Interactive, LSEG, Diamond Sports Group, Diamond, Barclays, Broadcom, VMware, Wolfe Research, Deutsche Bank, UBS, JPMorgan, Polaris, Mattel, Automotive, Boeing, Federal Aviation Administration, BTIG, Marathon Digital Locations: Europe, China

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Rivian, Amazon, Netflix, Ford, Rocket Lab & more
▼ + stars: | 2024-01-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Citi reiterates Apple as buy Citi said it's standing by its top pick status on Apple shares. UBS downgrades Ford to neutral from buy UBS said it sees limited upside to estimates. TD Cowen downgrades Fisker to market perform from outperform TD said it sees too many growing pains for Fisker. KeyBanc initiates Rocket Lab as overweight Key said it sees upside for the rocket satellite company. "We initiate coverage on Rocket Lab USA (NASDAQ: RKLB) with an Overweight rating and $8 price target, reflecting ~50% upside."

Persons: Jefferies, Tesla, Elon, Ford, TD Cowen downgrades Fisker, JPMorgan downgrades Morgan Stanley, Morgan Stanley, it's, Christine Barone, Goldman Sachs, Goldman, Davidson downgrades Teladoc, Key, Evercore, Wolfe, Piper Sandler, TGT, BURL, SolarEdge, Mizuho, William Blair, it's bullish Organizations: Citi, Apple, Huawei, UBS, JPMorgan, Bank of America, Bros, Rocket Lab, Lithia, Dealers, Susquehanna, JetBlue Spirit, Deutsche Bank, Deutsche, EV, CART, Target, Barclays, Boeing, Airbus, Mizuho, Amazon, " Bank of America, Netflix Locations: China, 2Q24, 3Q24, Burlington

☆ Stocks making the biggest moves before the bell: Spirit, Tesla, Teladoc, Rivian and more
▼ + stars: | 2024-01-17 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Spirit Airlines , JetBlue Airways — The airline stocks slid after a federal judge blocked JetBlue Airways' proposed $3.8 billion acquisition of Spirit Airlines. JetBlue shares fell nearly 1%, while Spirit Airlines dropped more than 20%. SolarEdge Technologies — The solar stock fell 5% following a downgrade by Barclays to underweight from equal weight. Twist Bioscience — Shares climbed 3.2% on the heels of an upgrade to buy from neutral at Goldman Sachs. Ford — Shares shed 2.3% on the back of a UBS downgrade to neutral from buy.

Persons: Sinclair —, Sinclair, Goldman Sachs, Davidson, William Blair, Nutanix, Wolfe, Uber, Tesla, Morgan Stanley —, Ted Pick, Visteon, Morgan Stanley, Morgan, —, Sarah Min, Yun Li, Jesse Pound, Michelle Fox Organizations: Spirit Airlines, JetBlue Airways —, JetBlue Airways, Bank of America Securities, Susquehanna Financial, JetBlue, LSEG, Diamond Sports Group, Diamond, Technologies, Barclays, Goldman, —, Broadcom, VMware, Deutsche Bank, Ford —, UBS, JPMorgan, Polaris, Mattel Locations: Rivian, China

☆ Walmart Spark shoppers can remove their tips up to 24 hours after delivery. Drivers say that contributes to a problem of 'tip baiting.'
▼ + stars: | 2024-01-11 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

When he works for Walmart's Spark Driver delivery app, it happens a few times a week, he told Business Insider. They traced the problem to a Spark policy giving customers up to 24 hours to reduce or take back their tips. DoorDash's app lets customers only increase a tip or add one — lowering a tip requires calling customer service, a company spokesperson told BI. AdvertisementDrivers can wind up making far less than they expected once the 24 hours is up, a Georgia Spark driver told BI. A Spark driver there told BI his area had too many drivers and that tip baiting wasn't a significant problem.

Persons: —, Dara Khosrowshahi, Spark, Yeji Jesse Lee, it's, Uber, they've, Brock Dickens, they'd, I've Organizations: Service, Business, Google, Walmart, Drivers, BI, Detroit Locations: Indiana, San Francisco, New York City, DoorDash, Carolina, Georgia, Oregon

☆ Most delivery gig work workers won't be impacted by the new fed rule — yet
▼ + stars: | 2024-01-09 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

But gig delivery companies like DoorDash and Instacart say they don't plan to make any changes. AdvertisementIf you make deliveries as a gig worker, don't expect any changes from a new federal rule — at least, not immediately. But companies that rely on gig workers to make deliveries say they won't need to make any changes. Amazon, which employs gig workers through its Flex delivery arm, did not immediately respond to Business Insider's request for comment. Do you work for Instacart, DoorDash, Walmart Spark, Uber Eats, or another gig delivery service and have a story idea to share?

Persons: —, Julie Su, Uber, Loyola University Chicago Professor Peter Norlander, I'm, Norlander Organizations: Service, Department of Labor, Labor, Department, Flex, Loyola University Chicago Professor, Wall Street, Walmart Locations: DoorDash

☆ Instacart is betting on Google to supercharge its ad-selling business
▼ + stars: | 2024-01-09 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +1 min

Instacart is opening up its ads program to sell targeted Google ads. Instacart's shopper data will be used to target the ads to specific groups of shoppers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Under the deal, Instacart will use Google Shopping ads to get consumers to buy products from Kraft Heinz, Danone, and others on its platform. Instacart will use its own shopper data to target consumers so it can, for instance, send an ad for Kraft Heinz's Philadelphia Cream Cheese to a repeat Instacart shopper searching for cream cheese on Google.

Persons: — Organizations: Service, Google, Kraft Heinz, Danone, Kraft Heinz's, Business Locations: Kraft Heinz's Philadelphia

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