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The pickle-wardrobe mania is emblematic of what sets TikTok Shop apart from e-commerce competitors like Shopify and Amazon. Just like TikTok's non-shopping content, TikTok Shop is built around viral videos, be it a surge in viewer interest in pickle-jar sweatshirts or a mad rush to buy freeze-dried Skittles . For UK sellers, chasing virality still seems to be the defining characteristic of the TikTok Shop experience. Jessica Slone runs TikTok shop Bad Addiction Boutique, which has sold tens of thousands of pickle-jar sweatshirts. "TikTok Shop is kind of this roller coaster, and right now it's on this amazing uphill journey.
Persons: TikTok, Dill, Frank Bloomer, Ashley Martinez, Michael Herling, I'm, it's, Herling, Jessica Slone, Slone, TikTok's, Lindzi Shanks, Shanks, TikTok doesn't, Virality, Laura Ritchey, Sellers, Julia Cote, hadn't, influencers, they'd, Ben Muir, virality, Hira Tariq, who's, Candy, there'll, It's, Boutique's Slone Organizations: US, TikTok Shop, Shipping Locations: Grillo's, West Texas
Oil prices surged to their highest level in more than a year on Thursday. The U.S. West Texas Intermediate futures reached $95.03 per barrel, marking the highest cost since August 2022. India's minister of petroleum and natural gas warned that there'll be "organized chaos" if oil prices break above $100 per barrel, but said the South Asian nation is well positioned to weather higher costs. "If the price goes above $100, it's not going to be in the interest of either the producing country or anyone's interest. Last week, oil prices surged to their highest levels in more than a year with U.S. West Texas Intermediate futures hitting $95.03 per barrel.
Persons: it's, Hardeep Singh Puri, CNBC's Dan Murphy, We'll, Puri Organizations: U.S . West Texas, United, United Arab Emirates Locations: U.S, Abu Dhabi, United Arab, India, India's, Asia
Some childcare operators told Insider the end of pandemic-era funding could make the problem worse. To keep the doors open at her Southampton Township, New Jersey, childcare center, she needs to find new clients or new funding. Jackson is just one of many providers across the US entering a period of uncertainty after a pandemic-era infusion of federal childcare funding ran out at the end of last month. That funding expired on Saturday, along with $13.5 billion in childcare funding from other pandemic-era legislation. She added: "What we're likely to see is childcare providers doing everything they can to continue to operate.
Persons: , Jackson, Patti Smith, Joe Biden's, they'd, Allyx Schiavone, Lauren Bauer, Molly Kinder, Julie Kashen, Kashen, Schiavone, Cristi Carman, they're, Carman, Shannon Hampson, Hampson, we're, Rep, Katherine Clark, Julia Pollak, ZipRecruiter, there's, Grant Organizations: Service, Greenway, National Association for, Education of Young Children, Rescue, Friends Center for Children, American Progress, Brookings Institution, The Century Foundation, Care, American Locations: Southampton Township , New Jersey, Maryland, Lincoln , Nebraska
Applebee's is bringing back its iconic Dollarita — a margarita that costs $1. "We've got our team members all geared up," Chief Marketing Officer Joel Yashinsky told Insider. After introducing the drink, Applebee's posted four consecutive quarters of same-store sales growth. Despite inflation, Yashinsky said Applebee's is able to keep the original $1 offer price because the ingredients have not increased in cost. Yashinsky did not provide an exact end date, though he told Insider that in the past, Applebee's has run the offer for a month at a time.
Persons: , We've, Joel Yashinsky, Ozzy Osbourne's, Yashinsky, Taylor Swift, John Peyton, Peyton, Applebee's, Steve Joyce, he's, margarita, it's Organizations: Service, NBC, Sunday, Kansas City Chiefs, Dine Brands Locations: margarita, America, that's
Companies like Meta, the parent of Facebook, and Salesforce are bringing back some of the workers they let go . In some cases where the layoffs were conducted reasonably well, a return might be something former workers would consider. Whether to return is a question some former Salesforce workers are likely asking. She said workers considering returning to a former employer might ask themselves questions such as: Why was I laid off? Now it's tech workers' turn.
Persons: Sandra Sucher, Harvard Business School who's, Sucher, they'd, Salesforce, Marc Benioff, , Salesforce execs, What's, who'd, lockdowns, it's, ChatGPT Organizations: Big Tech, Service, Companies, Meta, Facebook, Harvard Business School, Bloomberg, Workers, LinkedIn Locations: Wall, Silicon
Texas' citrus farmers have a nickname for a deep freeze that struck in February 2021: the Valentine's Day Massacre. The deep freeze was the second disaster in two years to hit Southeast Texas. As for the deep freeze, any temperature below 28 degrees Fahrenheit is devastating for citrus trees, Murden said. That was nearly cut in half during the 2020-21 season, according to data compiled by the Texas Valley Citrus Committee. A hurricane followed by a deep freeze ruined portions of Murden's grapefruit orchard.
Persons: Dale Murden, Hurricane Hanna, Murden, Jason Garza, Hanna, There's, there'll, it'll Organizations: Hurricane, NOAA, The Texas Tribune, Texas, Citrus Committee, M, Amistad Locations: Texas, Rio Grande Valley, Southeast Texas, Harlingen , Texas, Rio Grande, Rio, Mexico, Gulf of Mexico
A view of cars on the road during rush hour traffic jam, in San Francisco, California, U.S. August 24, 2022. UltraSense makes a chip that uses ultrasound waves to detect when a person has tapped on a solid surface. Daniel Goehl, UltraSense's chief business officer, told Reuters that automotive companies are experimenting with replacing traditional control buttons with solid panels of metal or wood, especially in high-end models. Under the deal announced on Monday, Mobase, a supplier to Korea's automotive industry, will use UltraSense chips in button bars it supplies to automakers. San Jose, California-based UltraSense's Goehl declined to say which vehicles will contain his company's chips, but said they will show up in "high-tier" models from Korean automakers.
Persons: Carlos Barria, UltraSense, Daniel Goehl, Byeong, Goehl, there'll, Stephen Nellis, Will Dunham Organizations: REUTERS, UltraSense Systems, Reuters, Thomson Locations: San Francisco , California, U.S, Jose , California, San Francisco
How knockoffs took over America
  + stars: | 2023-09-14 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com   time to read: +10 min
But these fake products have major financial and societal impacts that can lead to lost sales, jobs, and livelihoods. US Customs and Border Protection officers inspect boxes of counterfeit products at the Los Angeles/Long Beach Seaport complex. Edward Berthelot/GettyWhy sales of counterfeit goods have soaredE-commerce has been a breeding ground for knockoffs. AdvertisementAdvertisementAccording to the US Sentencing Commission , the maximum sentence for selling counterfeit goods is 10 years in prison. In 2020, Amazon established its Counterfeit Crimes Unit, which works with brands to identify and remove counterfeit products.
Persons: Daniel Shapiro's, Hugo Boss, counterfeiters, Spencer Platt, Getty, Shapiro, Jason Armond, Gabrielle Chanel, Michael Kors, Gucci, Chanel, Zers, Edward Berthelot, Superfakes, They've, Wang Zhao, I'm, counterfeits, It's Organizations: Service, Red, Puma, Fila, eBay, US Department of Homeland Security, International Chamber of Commerce, Frontier Economics, Customs, Border Protection, Los, United States Intellectual, United Nations Office, Drugs, UN, Seaport, Economic Cooperation, Development, US Chamber of Commerce, US Customs, Protection, US, Commission, Nike, Amazon Locations: Wall, Silicon, Manhattan, Los Angeles, Long, Beijing, Europe, China
Nine of the 12-man American team played Marco Simone for the first time. It’s a great test and it’s a really, really good match-play golf course. ... (We're) going to utilize his wisdom and he’s passionate about (the Ryder Cup). He’s just not here physically.”Woods was a player on eight Ryder Cup teams and a vice captain in 2018. While the U.S. routed Europe at home in Whistling Straits two years ago, the Americans haven’t won the Ryder Cup on European soil in three decades.
Persons: Zach Johnson, Marco Simone, Brooks Koepka, LIV, Brooks, , , ” Johnson, Koepka, “ Jordan Spieth, Xander Schauffele, Patrick Cantlay, , Johnson, Steve Stricker, Davis Love III, Jim Furyk, Fred Couples, Stewart Cink, There'll, it’s, He’s, ” Woods, haven’t, “ What’s, It’s, “ We’ve, , ” Justin Thomas, “ JT, Thomas, “ It’s, ___ Organizations: ROME, U.S, Ryder Cup, Team USA, Ryder, Valderrama Locations: Rome, Saudi, Europe, Spain, France, U.S, Whistling Straits, Peter’s, Italy
The iPhone 15 will be a tough sell in China. And China's homegrown rival Huawei has a new, superfast phone out, the Mate 60. China is Apple's second-biggest single market by sales outside the US, and its third-biggest region behind the US and Europe. Another important metric: China grew faster by revenue than Europe, implying continued prospects for growth for Apple beyond saturated Western markets. The advanced chip inside the new Mate 60 was made by Chinese company SMIC, according to a teardown by Bloomberg.
Persons: isn't, Trump, Gina Raimondo, CGTN, Sanford C, Bernstein Organizations: Huawei, Service, Apple, Staff, Wall Street, ZTE, US, Weibo, Bloomberg, Sanford Locations: China, Beijing, Wall, Silicon, Cupertino, Europe
The idea of permanent remote work is slipping away. After almost three years of relaxed work-from-home policies, CEOs are starting to drag their remote employees back to the office most days of the week. The remote work genie is out of the bottleInfluential remote work researchers, including Stanford researcher Nicholas Bloom, have been backing a flexible, hybrid approach as the way forward. Bloom previously told Insider that well-organized hybrid work is a "win-win" for companies and workers. AdvertisementAdvertisementEveryone else Insider spoke to agreed, though some said even hybrid was likely less productive than being fully in the office.
Persons: Goldman Sachs, Michael Gibbs, They've, Mark Zuckerberg, Andy Jassy, Gibbs, David Atkin, Raj Choudhury, Atkin, Ipsos, " Choudhury, Nicholas Bloom, Bloom, Choudhury, We'll, WFH, Jose Maria Barrero Organizations: Meta, Service, Companies, University of Chicago, Harvard Business School, National Bureau of Economic Research, MIT, Employees, The Washington Post, Stanford, WFH Locations: Wall, Silicon, Indian, Chennai
U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. But, while euro area-wide inflation unexpectedly held at 5.3% this month, underlying price growth fell, complicating matters for the ECB, who now appear more likely to keep interest rates unchanged next month than raise them. ECB rate-setter Schnabel - considered one of the most hawkish members on the ECB - said euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro." Both sterling and the euro are set for monthly drops of over 1% against the dollar in August.
Persons: Dado Ruvic, policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner, Samuel Indyk, Tom Westbrook, Shri Navaratnam, Kim Coghill, Chizu Organizations: REUTERS, European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE, New Zealand, Aussie, Thomson Locations: Tokyo
Euro slips as ECB policymaker takes cautious tone
  + stars: | 2023-08-31 | by ( ) www.cnbc.com   time to read: +3 min
The lettering Euro can be seen on a 1 euro coin, taken on 10 August 2023, in Baden-Württemberg, Rottweil. The euro edged back on Thursday after comments from German policymaker Isabel Schnabel failed to give firm clues on whether the European Central Bank will raise rates in September. ECB rate-setter Schnabel said that euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "We've heard the most influential hawk on the Governing Council take on a much more cautious tone," said Michael Brown, analyst at Trader X. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro this morning."
Persons: policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner Organizations: European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE Locations: Baden, Tokyo
Billionaire investor Jeff Greene says to expect discounts through real estate, as consumer savings fall. Discounts on office spaces will also be fueled by remote work, told CNBC. "In the next 12 to 24 months, you're going to see some extraordinary opportunities to buy." Retail, office, apartments — every aspect of real estate is going to get whacked, and I think we're just in the first inning," the real estate mogul told CNBC. AdvertisementAdvertisementDemand for commercial real estate is further pulled down by the continued prevalence of remote work, with 20%-25% of US employees still working from home.
Persons: Jeff Greene, That's, Greene, Goldman Sachs Organizations: CNBC, Service Locations: Wall, Silicon
Instacart recently cut base pay for shoppers from $7 to $4 per batch of orders. When we first started my wife's account in 2020, you still got mileage pay in addition to your batch pay. What about the new shopper who has no idea what the is difference between a good batch and a bad batch? Instacart told Insider that a shopper holding two shopper accounts is "a direct and clear" violation of Instacart guidelines that could result in deactivation. The shopper Insider spoke to and his wife both shop for Instacart and both have accounts.
Persons: Instacart, I've, there'll, Fred Meyer, they've, Michael Loccisano, sunup, it's Organizations: Instacart, Service, Costco, Care, Labor Locations: Wall, Silicon, Oregon, Instacart, Salem, Southern Oregon
AdvertisementAdvertisementAI is undermining the web's grand bargain, and a decades-old handshake agreement is the only thing standing in the way. Now, though, generative AI and large language models are changing the mission of web crawlers radically and rapidly. Without a supply of potential consumers, there's little incentive for content creators to let web crawlers continue to suck up free data online. It's also open to manipulation, especially given the voracious appetite for quality AI data. Because robots.txt is voluntary, web crawlers can also simply ignore the blocking instructions and siphon the information from a site anyway.
Persons: Microsoft's Bing, Joost de Valk, It's, de Valk, Nick Vincent, Valk, OpenAI, robots.txt, Jason Schultz, Catherine Stihler, Archie, NYU's Schultz, Steven Sinofsky, who's, Andreessen Horowitz, De Valk, Stihler Organizations: Big Tech, Google, Wordpress, NYU's Technology, Policy Clinic, AWS, Creative Commons, Creative, Microsoft, Nvidia, Star Wars, DC Comics, Warner Brothers, Marvel, Disney, Atlantic, Meta Locations: CCBot, EleutherAI
This, regulators say, makes it harder for banks to cut costs and absorb losses in a downturn. But many bankers are expected to resist swapping guaranteed pay for potentially higher bonuses, which can swing wildly across economic cycles. UK Finance, the industry body for banks in Britain, did not respond to the public consultation, leaving individual members to comment if they wanted to. Others warned against overplaying the significance of bonuses in Britain's battle to grow its financial sector, still reeling from the loss of big-ticket listings, such as Arm Holdings. "Compensation is a small point in the grand scheme of things of a vibrant financial sector.
Persons: Toby Melville, Luke Hildyard, there'll, Suzanne Horne, Paul Hastings, Horne, Simon Patterson, Edelmann, Oliver Wyman, Sinead Cruise, Huw Jones, Tomasz Janowski Organizations: City of, Regulators, European Union, Bank of England, Financial, Bankers, Reuters, European Banking Authority, International Employment, Britain, EU, Finance, Arm Holdings, Thomson Locations: City, City of London, Britain, Banks, European, New York, Singapore, EU, Paris, Frankfurt, United States, Japan, Switzerland, London, Europe
Bitcoin's back to its volatile ways after its big move down late last week — but not for the reason investors expected. Aside from the mismanaged crypto lenders (and FTX) that plagued the crypto market in 2022, the Federal Reserve's inflation-fighting rate hiking campaign played a big part in bitcoin's downward price pressure. "The volatility will have a persistence if we're going to stay here at an elevated real rate environment," he told CNBC. Even if the Fed doesn't raise interest rates anymore, the crypto space seems more focused now on real rates and keeping them elevated to fight inflation. Having institutions with an established long core holding would act as a stabilizing force for Bitcoin, Connors added.
Persons: it's, Mark Connors, 3iQ, We're, headwinds, Connors, It's, that've, Bitcoin, , Jeff Cox Organizations: CNBC, SEC, Fidelity Locations: BlackRock
Dan McNamara's Polpo Capital is shorting office real estate, a risky move that could be lucrative. If you're looking for a doomsday vision of commercial real estate, you can find it there. "I don't think this is the 'Big Short,'" McNamara told me. This doesn't mean he doesn't have a game plan to make money off cultural shifts that could forever change the state of commercial real estate. Lucas Jackson/ReutersWhere he's going longOne risk of shorting real estate is that it's more susceptible to what's known in real-estate circles as "extend and pretend."
Persons: Dan McNamara's, McNamara, it's, It's, shorting, Carl Icahn, Jim Chanos, Brendan McDermid, Dan McNamara, McNamara's, Braver Stern, Dan McNamara McNamara's, suede loafers, McNamara didn't, Josh Nester, Polpo, he's, Morgan Stanley, Kamil Sadik, Lucas Jackson, Manus Clancy, You've, David Tepper's, Trepp's Clancy, Clancy, David Tepper Organizations: Central Park, New, Polpo, New York University, Columbia, Kynikos Associates, Enron, Asset Management, Reuters, UBS, Co, Societe Generale, Securitized Credit Partners, Credit Suisse, MP, Fund, Bloomberg, of America, Simon Property, Federal Locations: Manhattan, Sixth, Central, New York City, New York, MatlinPatterson, America, China, Italy, Westchester , New York, Tribeca, York, Westchester, Waterford , Connecticut, Baltimore, San Francisco
While fourth-ranked England were semi-finalists at the last two World Cups, and won the European Championship on home soil last year, 10th-ranked Australia have never previously been past the quarter-finals at a major global tournament. "If you look at rankings they're favourites, if you look at where their players play, they have starting players in top clubs in top leagues all over the world," Gustavsson told reporters on Tuesday. "So if you look at all that and you look at resources, financially, obviously they are massive favourites going into this game. Another sellout crowd of around the 75,000 mark is expected at Stadium Australia for Wednesday's match and most will be backing the home team. "You need to live in every single moment because that's how small the margins are in the semi-final or final."
Persons: Sam Kerr, Dan Peled, Tony Gustavsson, Gustavsson, Sam, Swede, Nick Mulvenney, Peter Rutherford Organizations: Soccer Football, FIFA, Brisbane, REUTERS, England, Australia, U.S, Thomson Locations: New Zealand, Australia, France, Brisbane, SYDNEY, Sweden
Companies Novo Nordisk A/S FollowCOPENHAGEN, Aug 10 (Reuters) - Novo Nordisk's (NOVOb.CO) limits on U.S. supplies of starter doses of its hugely popular Wegovy weight-loss drug will last into next year even as the Danish drugmaker spends billions boosting output, its CEO told Reuters on Thursday. Earlier on Thursday, the company said it would continue to restrict U.S. supplies of starter doses of Wegovy as the company struggles to keep up with soaring demand. Novo has denied this, but when asked about this on Thursday Jorgensen said there may be shortages. The company expects to apply for regulatory approval for an expanded label indication in the U.S. and European Union later this year. "It'll take some time before we get it on label," Jorgensen said.
Persons: Lars Fruergaard Jorgensen, Thursday Jorgensen, Jim Vondruska, Jorgensen, " Jorgensen, Martin Lange, Nikolaj Skydsgaard, Jacob Gronholt, Josephine Mason, Jason Neely, Mark Potter Organizations: Novo Nordisk, COPENHAGEN, Reuters, REUTERS, Wegovy, Union, American Heart Association, Pedersen, Thomson Locations: Danish, Chicago , Illinois, U.S, Philadelphia, Copenhagen, London
The Federal Reserve said last week that it no longer expects a recession in the US. But unemployment will spike above 4% over the next year, according to Vanguard's top economist Joe Davis. "By that metric, it actually is a recession – because you have very modest job losses," he said. "Well, historically, that has been 100% associated with a recession – now, not necessarily deep in magnitude, but a recession." The central bank has raised interest rates from near-zero to over 5% since March 2022 in a bid to tame soaring prices but pledged to take a data-dependent approach to tightening last week.
Persons: Joe Davis, Davis, Bloomberg's, they'll, there'll Organizations: Federal Reserve, Service, Privacy, Fed, Bloomberg Locations: Wall, Silicon
Shares of the company rose 7% to hit a 1-1/2 year high after Boeing also posted second-quarter results above Wall Street expectations. The planemaker is now transitioning its 737 production line - including the MAX models that make up the vast majority of 737 production - to building 38 jets per month, up from 31, the company said. Calhoun later added the company is already in "prep mode" to raise monthly 737 production to 42, but wouldn't specify whether Boeing would do so in 2023, as Boeing Commercial Airplanes head Stan Deal said told Bloomberg TV in June. 'ENCOURAGING' RESULTS AMID CHALLENGESA photo of Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. Boeing expects to deliver most of the 228 MAXs in its inventory by the end of 2024, making it critical that Boeing step up production.
Persons: there'll, Dave Calhoun, Calhoun, Stan Deal, Brian West, Lindsey Wasson, Peter McNally, Refinitiv, Valerie Insinna, Abhijith Ganapavaram, Anil D'Silva, Nick Zieminski Organizations: Boeing, Boeing Commercial Airplanes, Bloomberg TV, Boeing Factory, REUTERS, Commercial Aerospace, Thomson Locations: Renton , Washington , U.S, West
Rep. Pramila Jayapal's comments on Israel caused an uproar this week in Congress. Even after Jayapal clarified her remarks about Israel, House Democratic leadership issued a statement rebuking her. Separately, 43 House Democrats said in a statement that they were "deeply concerned" about Jayapal's "unacceptable comments." "There's a few issues where any nuance is really discouraged," said another progressive House Democrat who insisted on anonymity to discuss the issue frankly. But Phillips held firm in his belief that it was important to firmly denounce criticism of Israel when it crosses a certain threshold.
Persons: Pramila, Israel, Jayapal, , Mark Pocan, Alexandria Ocasio, Cortez, Jamaal Bowman, he’s, Leigh Vogel, Bowman, Isaac Herzog, I'm, Ilhan Omar, Minnesota, Rashida, Tlaib, Rashida Tlaib, Dean Phillips, Phillips, Dean Phillips of, Bill Clark, Israel — Organizations: Service, Democratic, Israel, House Democratic, Democrats, Republicans, West Bank, Congressional Progressive Caucus, Democrat, New, New York District, Rep, The Recording Academy, Reps, Dean Phillips of, Jewish Democrat, Michigan Democrats, Palestinian, Jewish, House Democrat, Dean Phillips of Minnesota, Getty, Progressives, Israel Democrats Locations: Israel, Wall, Silicon, Washington, Chicago, Gaza, Wisconsin, Alexandria, Cortez of New York, New York, Westchester County, Congress, Palestine, Michigan, Dean Phillips of Minnesota, Palestinian, Jewish Diaspora, Cortez, Africa
But seven Big Tech and AI companies just partnered with the White House to step up efforts to flag such content. The companies may soon roll out systems that watermark or identify the origins of AI-generated materials. A coalition of tech giants and startups pledged Friday to watermark content produced by AI. The pledge included commitments for the companies to make "robust systems" that identify or watermark content produced by their AI tools. A political ad released Tuesday in support of Florida Governor Ron DeSantis reportedly used AI to replicate Donald Trump's voice and create a soundbite that never actually occurred.
Persons: Biden, ChatGPT, Ron DeSantis, Donald Trump's, Trump, Anthony Fauci Organizations: Big Tech, White, Google, Microsoft, Meta, AFP Locations: Florida
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