DIRS.INFO The most relevant business & tech news

☆ 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

☆ Sam Smith opens Vivienne Westwood’s Fall-Winter 2024 show in Paris
▼ + stars: | 2024-03-04 | by ( Leah Dolan | ) edition.cnn.com time to read: +5 min

The discombobulating outfit was, in fact, the opening look of Vivienne Westwood’s Fall-Winter 2024 show in Paris — a collection that has proved divisive online. “Vivienne Westwood will be turning in her grave watching Sam Smith in this get up,” wrote one disgruntled fan on X. While many online lamented how Kronthaler’s latest season has “defiled” and “tainted” Westwood’s fashion reputation. The 1990s era of Vivienne Westwood was defined by shape and silhouette, as demonstrated here with Linda Evangelista walking the Fall-Winter 1995 show in Paris. Kronthaler's first solo show for Vivienne Westwood at Paris Fashion Week felt more aligned with the brand's popular 90s silhouettes.

Persons: Sam Smith, trudging, fanny, Mel Gibson’s, Vivienne Westwood’s, Andreas Kronthaler, —, Pascal Le Segretain, Vivienne Westwood, Alexander McQueen, John Galliano, Gen, ”, Linda Evangelista, PL, Kronthaler, Kate Moss, “, Vivienne Westwood's, Giovanni Giannoni, Bella Hadid, Kronthaler's Organizations: CNN, Westwood, PL Gould, Vogue, Penske Media, Paris Fashion, Financial Times Locations: Paris, Sharpie

But the de minimis rule also has powerful defenders. China's exports grew only 0.6% last year, but the bright spot was cross-border e-commerce, which includes but is not limited to the de minimis packages. In a January meeting with Mayorkas, the National Council of Textile Organizations complained about unfair trade practices, including the de minimis rule. It is unclear how much fentanyl and other illicit drugs may be slipping undetected into the country in the small packages. On a recent Friday morning at Chicago's O'Hare airport, small parcels that had arrived by mail from overseas were on conveyor belts going through X-ray machines for inspection.

Persons: Lindsey Puls, Puls, ”, Alexander Mayorkas, Earl Blumenauer of, ” Blumenauer, Sen, John Thune, LaFonda Sutton, Burke, Charles Benoit, Benoit, Mayorkas, Videojournalist Melissa Perez Winder, Haleluya Hadero Organizations: WASHINGTON, Will, Homeland, National Foreign Trade Council, FedEx, UPS, DHL, eBay, South Dakota Republican, Customs, Custom, China’s Communist Party, Coalition for, Prosperous, National Council of Textile Organizations, National Association of Police, Border Protection, Investments Locations: China, U.S, Shiocton , Wisconsin, Earl Blumenauer of Oregon, Shein, Singapore, Chicago, United States, Prosperous America, Chicago's, New York

☆ Amazon's average customer is a white Gen X woman who spent $2,662 there last year
▼ + stars: | 2024-03-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Amazon's average customer is a white Gen X woman who earns about $60K per year and spends $2,662. Numerator found that Amazon's typical shopper is a white Gen X woman earning around $60,000 per year. Although Baby Boomers slightly outnumber Gen X among Amazon shoppers, Boomers are slightly less likely to shop with the company than the overall US consumer, while Gen X shoppers are slightly more likely. Boomers and Gen X shoppers are also increasingly fans of Amazon's Chinese-owned challenger, Temu. About one fifth of the typical Amazon shopper's consumer spending takes place online, more than the overall US average.

Persons: —, you've Organizations: Amazon, Service, Walmart, Boomers, Temu, Disney, Hanes, Kraft, Apple Locations: Seattle

☆ Amazon recommends video doorbells that can let anyone spy on you, report finds
▼ + stars: | 2024-02-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Researchers said they've found multiple video doorbells with serious security concerns. At least one doorbell sold by a brand was marked as "Amazon's Choice" product. AdvertisementYou might want to double-check that your video doorbell isn't vulnerable to being hacked. Instead, it seems like they're coasting on their reputation and saddling unknowing consumers with broken products," Brookman told CR. BI also reached out to Eken for comment on these issues and details about the brand names through which it appears to sell these video doorbells, but got no response.

Persons: they've, —, Tuck, Eken —, Justin Brookman, Brookman, didn't, Temu Organizations: Amazon, Walmart, Service, Sears, Consumer, CR

☆ US lawmakers are turning up the heat on Temu, Shein, and their use of a shipping loophole that helps keep their prices low
▼ + stars: | 2024-02-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

US lawmakers are ramping up their pressure on e-commerce platforms like Temu, Shein, and AliExpress. Representatives for Temu, Shein, and AliExpress did not return Business Insider's request for comment. It added that almost 50% of all de minimis shipments to the US come from China. Shipping consultancy ShipMatrix estimates that Temu and Shein each ship more than a million packages to the US daily. Brown and Scott are not the only US lawmakers to advocate for change as Temu and Shein have gained a foothold.

Persons: Joe Biden, Sherrod Brown, Rick Scott, Brown, Scott, AliExpress, spokespeople, Shein, minimis Organizations: Business, U.S . Customs, Border Protection, Customs, Temu, Chinese Communist Party, China . Shipping, Uyghur, Labor Locations: China, minimis, United States, mstone@businessinsider.com

☆ Taylor Swift's 'poor quality' merch and shipping delays has some fans calling for a boycott
▼ + stars: | 2024-02-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Read previewTaylor Swift fans are a dedicated group, but complaints about the pop star's merch have some calling for a boycott in recent months. However, some fans on social media are calling out what they described as the poor quality of her merch and delayed shipping times. Instead of blaming Swift for the merch, many fans are looking at her record label Universal Music Group for the delays and poor quality. Another Redditor posted expectation vs. reality photos of a $40 "1989" tote bag ordered online. Others online called out the "poor quality" of the tote bag and said that it's nothing new for Swift's merch site.

Persons: —, Taylor Swift, Swifties, Pollstar, Swift, Redditor, subreddit, hadn't, Swift's, I'm, taylors, TeJDBDyfBj — Riley 🤍🖤 Organizations: Service, Business, Universal Music Group, tote

☆ Is your mom a 'Temu victim?'
▼ + stars: | 2024-02-20 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +1 min

Read previewWe know several things to be true about Temu, the Chinese-owned e-commerce app:This story is available exclusively to Business Insider subscribers. So we know that older shoppers love Temu, and they love the fun, whimsical, and cheap household items it sells — wall art, shower curtains, kitchen items, etc. AdvertisementOne Gen X Temu shopper told me he likes Temu because it reminds him of the stuff he's seen on late-night infomercials. Here's the flip side of this: The children, often Gen Z young adults, of those Gen X or boomer shoppers, are making fun of them for being "Temu victims." I say: Let the moms (and dads and grandparents) enjoy their Temu.

Persons: —, X, boomer, Steffi Cao, Stanley Organizations: Service, Business

Fran Horowitz, Abercrombie & Fitch CEO: The future of retail is small, efficient, omni stores, and they're located where the customer tells us. I get really, really excited about what this means in the operations of the business, using predictive analytics to help us forecast demand. They're worldwide, a zillion stores, and their operations and execution, aside from their merchandising, I think they're always on top of the game. I think you're going to see an interaction with someone in a setting that doesn't look like retail, but looks like a fantastic experience. Nicholas of Sam's Club: Another retail standard that is really going to be important beyond the customer is energy.

Persons: Christina Locopo, Fran Horowitz, Abercrombie, Patrick MacLeod, WWD, Michelle Gass, Levi Strauss, they're, Jens Grede, Geoffroy van Raemdonck, Neiman Marcus, there'll, Trina, Patrick T, Fallon, Chris Nicholas, Kara Trent, Levi's Gass, Tom Ward, Erin Black, CNBC Abercrombie's Horowitz, Marc Lore, Mickey Drexler, TikTok, Adam Jeffery, Dave Kimbell, It's, Scott Mlyn, CNBC Neiman's van, you've, Yael Cosset, —, Ulta's, Arturo Holmes, Trent, That's, we've, Kroger's, Abercrombie's Horowitz, I've, Dia Dipasupil, Neiman's van, who's, Lulu, Drexler, Armour's, Dior, Louis Vuitton, Hermes, Armour Levi's Gass, Emma Grede, Kardashian, Kim, Geoffroy van Raemdonck Patrick Mckleod, Nicholas of Organizations: CNBC, Abercrombie, Fitch, Abercrombie & Fitch Co, Penske Media, Getty, Milken Institute Global Conference, AFP, Sam's, Technology, Walmart U.S, Walmart, New York Times, Navy, WWD, Young, Nike, TJX, Zara, Armour's Trent, Americas, Nicholas of Sam's, Sam's Club Locations: they're, Beverly Hills , California, New York City, America, New York, U.S, Skims, Inditex, Kara, Walmart's

☆ Temu is trying to win over America. Good luck.
▼ + stars: | 2024-02-13 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

During the game’s commercial breaks, Temu managed to grab several 30-second ad slots estimated to cost $7 million each . Temu is spreading across AmericaSigns so far suggest US consumers are buying the Temu hype. AdvertisementResults published this month from a survey of around 600 consumers, carried out by investment bank Jefferies, found that almost one in three, or 31%, had used Temu. Temu lacks US-based apparel brands, the bank said, making online window shopping on the site less appealing to Americans, for now. That said, Temu looks ready to put its all into America.

Persons: —, Taylor, Travis Kelce, didn’t, Temu, Shein, Jefferies, TikTok Organizations: Service, Super, Business, Bernstein Research, Bowl, Jefferies, Amazon, Bloomberg Locations: Tokyo, China, America, Europe, Beijing

☆ Putin's big week means more uncertainty for the markets during a critical time
▼ + stars: | 2024-02-13 | by ( Milly Struthers | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today’s big story, we’re looking at why the recent resurgence of Vladimir Putin and Russia comes at an inopportune time for the markets. The big storyPutin's big weekRebecca Zisser/Business InsiderVladimir Putin hasn't notched many personal wins since Russia's invasion of Ukraine, but last week was an exception. Putin’s successes further complicate a geopolitical situation that has silently loomed over a US economy trying to tiptoe past a recession.

Persons: —, florists, Vladimir Putin, Rebecca Zisser, Vladimir Putin hasn't, Tucker Carlson, he’s, Tom Porter, Carlson, Putin, Joe, Donald Trump, BI’s Brent D, Griffiths, Tom, GAVRIIL, Jamie Dimon, Ray Dalio, Jerome Powell, It’s, David Rosenberg, doesn’t, Alex Wong, Stocks, Savita Subramanian, Grammarly, Abanti Chowdhury, Zers, Temu, Sam Altman, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, NATO, Sputnik, Kremlin, JPMorgan, Bridgewater Associates, Reserve, Federal Reserve, Bank of America, Labor Statistics, Tech, Chiefs, 49ers, World, Ferrari, Business Locations: Russia, Ukraine, Russian, Moscow, China, Israel, Gaza, Washington ,, New York, London

☆ Temu dropped tens of millions of dollars on its flurry of Super Bowl ads — and its big spending may pay off
▼ + stars: | 2024-02-13 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Temu's Super Bowl ads sparked a surge in online searches despite recent downturn among users. AdvertisementTemu was the talk of the town on Monday after its ambitious Super Bowl advertising campaign sparked a flurry of online queries about the Boston-based, Chinese-owned e-commerce company. The company splurged on three ads during the game and two afterward, per CNN, also offering $15 million in giveaways and coupons as part of its Super Bowl promotion. But while Temu saw massive growth in 2023, some of its numbers have started to fall off in recent months among American users, according to Bloomberg. But its Sunday advertising campaign may have already helped Temu regain some of its early success in the US.

Persons: Temu, —, Morgan Stanley Organizations: Service, Super Bowl, Bloomberg, CNN, Bowl, Temu, Google, Apple, USA Locations: Boston

☆ Super Bowl 2024: Online superstore Temu doubles down with TV ad and $15 million in giveaways
▼ + stars: | 2024-02-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A year after making its advertising debut at the Super Bowl, Chinese-backed online shopping platform Temu is redoubling efforts in its most important market with a second ad on America’s biggest stage and $15 million in coupons and other giveaways. The Boston-based firm — owned by PDD (PDD), the group behind Chinese online shopping giant Pinduoduo — paid for three ads during the game and two after the game. Commercials for the 2024 Super Bowl sold for higher rates than for last year’s game, with a range of $6.5 million to $7 million per 30-second spot broadcast on TV channel CBS, two individuals familiar with this year’s advertising sales told CNN. “The commercial marks the highlight of a Super Bowl campaign that featured more than $15 million in coupons and giveaways,” Temu said in a statement. As a result, PDD’s market capitalization soared that month, eclipsing that of older e-commerce rival Alibaba (BABA) for the first time.

Persons: Hong Kong CNN —, ”, ” Temu, Seema Shah, ” Shah, “, Temu, spender, Earnest Analytics, PDD, Alibaba, Alibaba’s, Jack Ma Organizations: Hong Kong CNN, Super Bowl, PDD, CBS, CNN, Bowl, Amazon, Super, Facebook, Dollar Locations: China, Hong Kong, Boston, United States, United Kingdom, Mexico, Germany, Australia

☆ Temu's Super Bowl ad reveals we've been saying its name wrong
▼ + stars: | 2024-02-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The ultra-discount retailer Temu bought an eye-popping three $7 million Super Bowl ad spots. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though not quite a rebranding, this pronunciation is new for the two-year-old e-commerce site, which aired its first (single) Super Bowl commercial last year. In that ad, Temu is clearly (and predictably) pronounced "tee-moo." Those results make the estimated $21 million look like money well spent for Temu's parent company, PDD Holdings.

Persons: —, PDD Organizations: Temu, Service, Super, PDD Holdings, JPMorgan Locations: Temu, China

☆ Wish's deep discount sale to Singapore's Qoo10 ramps up competition for Temu and Shein
▼ + stars: | 2024-02-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Global online shopping platform Temu is already climbing the ranks in the U.S. Apple Store. The Temu marketing blitz, which blanketed Facebook and Instagram well before Sunday's Super Bowl, is also familiar to anyone who followed Wish. Qoo10 will now be taking on Temu and Shein, which both originated in China and still have strong ties to the world's second-biggest economy. During and shortly after the Super Bowl, Temu ran a handful of "shop like a billionaire" ads and touted $15 million in giveaways. WATCH: Temu sees fewer new users post Super Bowl

Persons: it's, Singapore's Qoo10, Wish, Peter Szulczewski, Szulczewski, China's ByteDance, Temu, Morgan Stanley Organizations: Apple, Super Bowl, Facebook, Los Angeles Lakers, PDD Holdings, Shein Locations: U.S, San Francisco, China

☆ All the Super Bowl Ads So Far, Ranked
▼ + stars: | 2024-02-11 | by ( Mike Hale | ) www.nytimes.com time to read: 1 min

In the spirit of “Who actually watches the game?,” here is our ranking of all the Super Bowl commercials we have been able to track down so far, from best to worst. Ground rules: Only ads being shown on the national CBS broadcast during the game are eligible. Certain spots, including several advocating a boycott of Tesla and a number of CBS promos for its own primetime series, were omitted from this ranking. Commercials not available beforehand or with a live component — including spots from FanDuel, TurboTax, the Foundation to Combat Antisemitism and the controversial Chinese e-commerce company Temu — will be added after the game. (If Travis Kelce proposes to Taylor Swift in a surprise ad for The Knot, we will probably have our winner.)

Persons: Travis Kelce, Taylor Swift Organizations: Super, CBS, Tesla, Foundation, Combat, Temu Locations: FanDuel

☆ China e-commerce player Temu is about to run its second Super Bowl ad — and do $10 million in giveaways
▼ + stars: | 2024-02-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In addition to the commercial, Temu will be giving away $5 million in coupons and credits, an initiative already underway. On the day of the Super Bowl, Temu plans to do an additional $10 million in giveaways, the spokesperson said. It's rare for a Chinese firm to buy a Super Bowl ad spot, which costs millions of dollars . Temu, the e-commerce app run by Chinese company PDD Holdings , plans to run a Super Bowl ad on Sunday, a spokesperson told CNBC, as it looks to continue growing rapidly in the United States. Temu launched in September 2022 and shortly after aired its Super Bowl ad in 2023.

Persons: Temu, underscoring, PDD, Zappi, Temu's, Morgan Stanley Organizations: PDD Holdings, CNBC, Facebook, Temu's, Meta Locations: giveaways, United States, Temu's U.S, U.S, Temu

☆ Temu returns to Super Bowl ad slate as lawmaker ire swells
▼ + stars: | 2024-02-09 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Temu, the controversial Chinese e-commerce giant looking to take on Amazon , is returning to the big game on Sunday with a Super Bowl ad that lawmakers are calling on Paramount Global and CBS not to run. The multi-million dollar investment put Temu on the map and by the end of 2023, it was the No. On Wednesday, 11 Republican lawmakers sent a letter to the CEOs of CBS, which is airing the Super Bowl, and parent company Paramount urging them not to run the advertisement. "Specifically, Temu 'does not have any system to ensure compliance with the Uyghur Forced Labor Prevention Act (UFLPA). Allowing Temu's commercial to air "would be a touchdown for the Chinese Communist Party against the home team," the letter stated.

Persons: haven't, Temu, Carol Miller, Byron Donalds, Jim Banks, Nicole Malliotakis, Christopher Smith, Pete Stauber, Ronny Jackson, Michelle Steel, Beth Van Duyne, James Baird, Mike Carey Organizations: Paramount Global, CBS, PDD Holdings, U.S, Republican, Paramount, Bowl, Chinese Community Party, Uyghur, Labor, Chinese Communist Party, Reps, Ohio . Paramount Locations: U.S, United States, Ohio

☆ Alibaba shares sink after it shelves IPO plans for two units
▼ + stars: | 2024-02-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Shares in Alibaba sank as much as 7% in Hong Kong on Thursday, after the Chinese tech giant reported disappointing sales figures and announced it would suspend listings plans for two of its units. The news comes at a tough time for the tech giant. In December, the company reshuffled its top ranks after the stellar performance of a competitor caused a stir at Alibaba. The company’s announcement of a $25 billion share repurchase program, which it said demonstrated its confidence in its business and cash flow outlook, also failed to ignite interest among investors. Alibaba shares in New York closed 5.9% lower on Wednesday.

Persons: Joseph Tsai, ”, Alibaba, Jack Ma, PDD, Alicia Yap, Ma, —, Laura Organizations: Hong Kong CNN —, Cainiao, Reuters, Refinitiv, ” Citi Locations: China, Hong Kong, Alibaba, New York

☆ Digital ad market shows signs of sharp rebound as Meta, Amazon point to growth
▼ + stars: | 2024-02-05 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

During that period Meta's ad revenue fell 4%, and Google's ad business suffered a similar drop . A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump. Meanwhile Alphabet, still the market leader, saw its Google ad business rise 11% to $65.5 billion, boosted by 16% growth at YouTube. Investors will get additional data on the digital ad market when Snap and Pinterest report earnings this week. On the whole, "digital advertising is continuing to eat up share" of worldwide advertising, Williamson said.

Persons: Li, Susan Li, Debra Aho Williamson, William Blair, Williamson, Meta Organizations: Google, YouTube, Insider Intelligence, CNBC, Intelligence, Meta, Investors, Bank of America Global Research Locations: Paris, Russia, Ukraine, China, Red

☆ Gen X and boomers love Temu. I asked them why.
▼ + stars: | 2024-02-04 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Recent research showed that boomers and Gen Xers shopped more frequently on Temu than younger people. I was surprised when I read a research study recently that said that Gen X and boomer Temu shoppers tended to spend slightly more per order and placed orders more often than younger shoppers. AdvertisementSo I asked readers who were boomers or Gen Xers to write in and tell me: Why do they love Temu so much? The Gen X and boomers denied this — most of them said they ignored the annoying roulette wheels. —LanieA variety of items bought by a Gen Xer on Temu Kristy MeeksA crafter who gets jewelry-making supplies:I shop on Temu mostly for jewelry, crafting and jewelry supplies.

Persons: Gen Xers, —, fanny, Elsa, X, Temu, Xers, Tyrone A, I'm, They're, it's, — Linda, Kristy Meeks, Lydia, I've, Randy, Bill Craft supples, Bill Eldridge The Organizations: Service, Amazon Locations: Temu, Toronto, China

☆ Meta to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Meta will report fourth-quarter earnings after the bell on Thursday. In Alphabet 's earnings report on Tuesday, the company said Google ad revenue increased 11% from a year earlier, slower expansion than analysts were expecting. Meta finance chief Susan Li most recently highlighted the significance of business from China in the company's third-quarter earnings report in October. Analysts expect Reality Labs to show revenue of $762.8 million for the quarter and an operating loss of $4.26 billion, according to StreetAccount. Apple and Amazon are also slated to report fourth-quarter results on Thursday, wrapping up earnings season for tech's mega-cap companies.

Persons: Mark Zuckerberg, Meta, Susan Li, Li, Zuckerberg Organizations: U.S, Capitol, LSEG, StreetAccount, Google, Facebook, Meta, Wednesday, Labs, Apple Locations: Washington , U.S, China

Activist investor Elliott Management has a "sizable" investment in e-commerce firm Etsy , which announced on Thursday that Elliott partner Marc Steinberg would join the company's board. The activist investor has built a roughly 13% position in the stock, a person familiar with the matter told CNBC. The position would make it Etsy's largest investor. Still, the e-commerce company's stock is down about 10% year-to-date. It competes with e-commerce companies including Amazon, which has its own handcrafted products platform.

Persons: Elliott, Marc Steinberg, CNBC's David Faber, Josh, Steinberg, Etsy, Josh Silverman, Silverman Organizations: Nasdaq, Elliott Management, CNBC, Vanguard, BlackRock, Match Group, Philips, Amazon Locations: New York City, Salesforce, Brazil

☆ CNBC Daily Open: Hopes sink for March rate cuts
▼ + stars: | 2024-02-01 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Overnight, U.S. stocks were sharply lower after Fed chair Jerome Powell said the central bank likely won't be ready to cut rates in March. China tough place for U.S. firmsMore U.S. companies are finding it tougher to be profitable in China compared to before the pandemic. [PRO] Jefferies top picksAlibaba, ASML are some of Jefferies' "highest-conviction" stock picks to buy.

Persons: Jerome Powell, Hang Seng, Paytm, Michael Hart, Meta's, Victor Lee, Jefferies Organizations: Federal Reserve, New York Stock Exchange, CNBC, Treasury, U.S, American Chamber of Commerce, Qualcomm, Jefferies Locations: New York City, U.S, Asia, Hong Kong, South Korea, India, Mumbai, China

☆ Meta rally and Temu and Shein correction
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Vincent Lee is president of digital advertising firm Advantage Unified Commerce. An earlier version misstated the firm's name.

Persons: Vincent Lee Organizations: Unified Commerce

Search resuls for: "Temu"

25 mentions found