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☆ Another unforced error by Boeing is souring the new boss’ good vibes
▼ + stars: | 2024-09-25 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Less than two months into his tenure as CEO, Ortberg has largely understood the assignment. See here: We’re nearly two weeks into a strike by Boeing’s largest labor union. Initially, Ortberg seemed to have buy-in from labor leaders, who publicly acknowledged that the new boss was walking into a conflict that predated him by 16 years. All of that gave the new boss, who spent his first day at work touring a factory floor, a kind of pro-labor halo. “This tactic is a blatant show of disrespect” to union members and the bargaining process, the International Association of Machinists wrote Monday.

Persons: CNN Business ’, Kelly Ortberg, Ortberg, ’, ”, International Association of Machinists, “, “ We’ve, Wheaton, ” Wheaton, ’ …, ” It’s, it’s, ” Ortberg, It’s, Richard Aboulafia, ” Aboulafia, what’s, …, CNN’s Chris Isidore Organizations: CNN Business, New York CNN, Boeing, machinists, International Association of, Cornell University’s School of Industrial and Labor Relations Locations: New York, what’s

☆ How birria took over restaurant menus across the country
▼ + stars: | 2024-09-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

Birria burrito surrounded by birria tacos, birria munchwrap, birria loaded fries and birria consommé at Little Miner Taco in North Bethesda, Maryland. Birria tacos use the slow-cooked meat as a filling and usually include a consommé on the side to dip the taco. Over the past four years, birria has seen its presence on restaurant menus grow 412%, largely thanks to midscale and casual-dining chains, according to market research firm Datassential. More recently, birria took off in New York City, with restaurants and food trucks serving up tacos and consommé across the five boroughs. Finding opportunityQdoba's Brisket Birria, seen here in the chain's quesadillas.

Persons: birria tacos, birria, Laura Chase de Formigny, chiles, El, Del, Taco Bell, Scott Suchman, Steven Alvarez, Alvarez, Don Guadalupe Zárate, Birrieria Gonzalez, TikTok, Qdoba's Brisket, Katy Velazquez, Qdoba, Velazquez, Lamb, Liz Hafalia Organizations: Little Miner, Washington Post, Getty, John's University, Butterfly Equity, San Francisco Chronicle, Hearst Newspapers Locations: Little, North Bethesda , Maryland, Mexican, U.S, Del Taco, Jalisco, Washington ,, St, Europe, Americas, Tijuana, Mexico, Los Angeles, California, New York City, Oakland , California

SHENZHEN, China — Chinese vendor Yin Xinwei sometimes makes close to $1,400 a day selling low-priced pill boxes, barbecue spits and other items to U.S. online consumers. Each year hundreds of millions of packages, mostly from Chinese platforms, are sent directly to American consumers eager to take advantage of rock-bottom prices on clothing, electronics and other products. That could mean painful times ahead for the Chinese sellers that supply the platforms — and higher prices for American consumers. Chinese state media has criticized the proposal as protectionist and say it will hurt American consumers. Yin used to sell to Chinese consumers but has given up his domestic business to focus entirely on the overseas market.

Persons: Yin, ”, ” Yin, David Townsend, Dorsey, Trump, Biden, ” Townsend, Temu, “, Jacky Lu, Shein, Eunice Yoon, Jennifer Jett Organizations: CNBC, Whitney, PDD Holdings, White, U.S . Customs, U.S Locations: SHENZHEN, China, Shenzhen, United States, U.S, Singapore, Boston, Hong Kong, Europe, “

☆ FAA boss: Boeing still must make ‘significant changes’ to improve quality and safety
▼ + stars: | 2024-09-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Boeing still has to make “significant changes” to improve the quality and safety of its airplanes, according to the head of the Federal Aviation Administration. “There must be a shift in the company’s safety culture to holistically address its systemic quality assurance and production issues,” he will say, according to his remarks. The incident sparked numerous federal investigations into Boeing, and numerous congressional hearings that raised questions about its quality and safety of its planes. Whitaker is set to say that Boeing must make “significant changes” to address “systemic production quality issues.” And his remarks also promise that the FAA will be more active in oversight of both Boeing and its primary supplier, Spirit AeroSystems, which Boeing is in the process of purchasing. “We have added more safety inspectors in the Boeing and Spirit AeroSystems facilities, and we will maintain our increased on-site presence for the foreseeable future,” he will say, according to his remarks.

Persons: Michael Whitaker, Max, ”, “, Whitaker’s, Whitaker, Joe Buccino Organizations: New, New York CNN, Boeing, Federal Aviation Administration, Alaska Airlines, FAA, Reuters, CNN Locations: New York, Alaska

☆ Israel and Hezbollah launch new attacks after deadly day in Lebanon
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +3 min

Smoke billows over southern Lebanon following Israeli strikes, amid ongoing cross-border hostilities between Hezbollah and Israeli forces, as pictured from Marjayoun, near the border with Israel, September 23, 2024. Israel struck Hezbollah targets in southern Lebanon and the Iran-backed group attacked military facilities in northern Israel on Tuesday, increasing fears of a full-blown conflict after Lebanon suffered its deadliest day in decades. Israel's military said it hit dozens of Hezbollah targets overnight, a day after carrying out airstrikes against the armed group which Lebanese authorities said killed nearly 500 people and sent tens of thousands fleeing for safety. Hezbollah said it targeted several Israeli military targets overnight including an explosives factory 60 km (37 miles) into Israel, which it attacked with Fadi rockets around 4 a.m. (0100 GMT). It said it also attacked the Megiddo airfield near the northern Israeli town of Afula three separate times overnight.

Persons: Israel, Najib Mikati's, Israel's, Yemen's Houthis Organizations: Fadi, United Nations General, UN, Assembly Locations: Lebanon, Marjayoun, Israel, Iran, Megiddo, Afula, Gaza, New York, U.S, Iraq, Beirut, fester

☆ The truth about promotions
▼ + stars: | 2024-09-24 | by ( Aki Ito | ) www.businessinsider.com time to read: +9 min

That was obviously a bad idea, and since then, we've spent a century and a half honing the art and science of promotions. To study promotions, the researchers conducted a series of clever experiments. But in other groups, managers were selected based on their own preferences. What did much better at predicting good managers was intelligence, as measured by a common IQ test. "Don't think, well, they like to talk, and therefore they're going to be a good manager."

Persons: we've, we're, David Deming, It's, Dunning, Kruger, Mark Zuckerberg, Elon Musk, Deming, they'll, Aki Ito Organizations: National Bureau of Economic Research, Employees, Harvard Kennedy School, Harvard, Tech, Business Locations: America

☆ Adoption fraud was widespread for many South Koreans adopted into Western countries, AP finds
▼ + stars: | 2024-09-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +22 min

SEOUL, South Korea (AP) — As the plane descended into Seoul, Robert Calabretta swaddled himself in a blanket, his knees tucked into his chest like a baby in the womb. The South Korean government has accepted a fact-finding commission under pressure from adoptees, and hundreds have submitted their cases for review. Western governments turned a blind eye, sometimes even pressuring South Korea for children, while promoting the narrative that they were saving orphans with no other options. Robert Calabretta, right, and his biological father, Lee Sung-soo, during a visit in Daegu, South Korea, in August 2020. Laurie Bender was approached by a strange woman while playing in the front yard in South Korea in 1975.

Persons: Robert Calabretta swaddled, they’d, “, ”, —, doesn’t, Robert Calabretta, Lee Sung, Calabretta, “ You’re, Patricia Nye, ” Nye, Holt, weren’t, ” Michaela Dietz, Robyn Joy Park, Rae, hasn't, Jae, Lee, ” Lee, Lee Moo, wasn’t, David Goldman, she’d, Laurie Bender, Bender, Han Tae, Philsik Shin, Helen Noh, Noh, ” Noh, he’d, Susan Soonkeum Cox, Kim Jin Sook, Francis Carlin, ” Carlin, …, Carlin, ” Bender, you’ve, Han Organizations: The Associated Press, South, AP, Frontline, International Social Service, University of Minnesota, ISS, BBC, ”, Holt Children’s Services, Eastern Social Welfare Society, Korea Welfare Services, Korea Social Service, Records, Health Ministry, Red Cross Hospital, U.S, Korea’s Anyang University, Seoul’s Soongsil University, Holt International, Catholic Relief Services, South Korean, FRONTLINE, PBS Locations: SEOUL, South Korea, Seoul, United States, South, Western, adoptees, U.S, Australia, Daegu, Korean, West, Korea, Geneva, “, Asia, Europe, North America, Pasadena , Calif, Boryeong, American, New York, ”, Oregon, Holt, Holt Korea

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Pinterest, Palantir, Microsoft, Nike, Meta & more
▼ + stars: | 2024-09-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We are initiating coverage of enterprise planning and 'Office of the CFO' software provider OneStream (OS) with an Outperform rating and $38 target price." Deutsche Bank initiates Pinterest at buy Deutsche called Pinterest an "under-monetized, scaled, increasingly personalized 'digital catalog' that attracts an affluent, high purchase-intent user base." "We initiate coverage of Pinterest, Inc. with a Buy Rating and a $43 Price Target." "We initiate coverage on FLUT with a Buy Rating and $270 PT." JPMorgan adds Nike to negative catalyst watch list The bank is sticking with its neutral rating but is negative heading into earnings on October 1 for Nike.

Persons: Bernstein, it's bullish, Morgan Stanley, Piper Sandler, Piper, TD Cowen downgrades, Cowen, Goldman Sachs, Goldman, Raymond James downgrades Palantir, Raymond James, Dr Pepper, Wells, Tesla, it's, bullish, Coreweave, Davidson, Needham, Truist Organizations: Nvidia, Citi, Meta, Facebook, Apple, BMO, Bank of America, underperform Bank of America, Holding AG, Citigroup, Deutsche Bank, Deutsche, Barclays, Bank, New York Mellon, Bank of New York Mellon, Motors, Microsoft, Needham, JPMorgan, Nike, Technology Locations: North America

☆ Battery giant Northvolt to cut 25% of workforce in Sweden as part of a major cost-cutting drive
▼ + stars: | 2024-09-23 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Battery maker Northvolt on Monday announced plans to cut a total of 1,600 jobs in Sweden as part of a major cost-cutting drive. The strategic action requires Northvolt to reduce its global workforce by around 20% and a 25% reduction in Sweden, the firm said. Northvolt, which currently delivers batteries from its first gigafactory Northvolt Ett in Skellefteå, said in March that it had over 6,000 employees. The announced measures come as part of a broader strategic review and in response to what Northvolt described as "a challenging macroeconomic climate." Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately-held tech firms that builds lithium-ion batteries for the electric vehicle industry.

Persons: Northvolt, Peter Carlsson, Carlsson, — CNBC's Ryan Browne Organizations: Office, Monday, Volkswagen, Volvo Locations: Northvolt, Sweden, Skellefteå, Stockholm

☆ TSMC and Samsung in talks with UAE to build chip megafactories, WSJ reports
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

South Korea-based Samsung Electronics has also been considering investing in building chip manufacturing facilities in the country in the coming years. The Gulf state has been ramping up efforts and investments in developing its domestic tech industry as it works to build its position as a global hub for advanced technology and artificial intelligence. However, the discussions with UAE officials are still in the early stages, the report said. A tug-of-war between the U.S. and China has played out in the region as tech deals speed up and Washington grows increasingly wary over Beijing's influence in the Gulf state. TSMC and Samsung have held discussions with U.S. officials who are worried about potential shipments of advanced AI chips coming from UAE-based plants to China.

Persons: Alex Capri Organizations: Dubai International Financial, Global, Taiwan Semiconductor Manufacturing Co, Samsung Electronics, United, Street, TSMC, South Korean, UAE, U.S, Samsung, National University of, CNBC, Wall Locations: Dubai, United Arab Emirates, Burj, Gulf, Taiwan, South Korea, China, Washington, UAE, The U.S

☆ Far-right group that invokes Nazi past on track for more state election success in Germany
▼ + stars: | 2024-09-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

The AfD became the first far-right party to win a state election in Germany since World War II, in Thuringia, on Sept. 1 and just missed first place in Saxony. Hans-Christoph Berndt, the AfD candidate for Brandenburg state premier, cast his ballot on Sunday in the town of Golssen, south of Berlin, expressing optimism about his party’s prospects with increased support compared to 2019. Narrow the gapIn recent weeks, the SPD has managed to narrow the gap with the AfD, opinion polls have shown. AfD party leader Tino Chrupalla said Scholz should do the same. “It is high time this government suffer the consequences after this state election,” Chrupalla said.

Persons: Chancellor Olaf Scholz’s, Hans, Christoph Berndt, we've, ” Berndt, won’t, Scholz, Brandenburg’s, Dietmar Woidke, Woidke, pollster Forschungsgruppe Wahlen, ” Woidke, Tino Chrupalla, ” Chrupalla Organizations: Chancellor Olaf Scholz’s Social Democrats, Communist, Brandenburg, Social Democrats, SPD, Sahra Wagenknecht, Scholz’s, Free Democrats, Greens Locations: German, Brandenburg, Germany, Thuringia, Saxony, Europe, Ukraine, Scholz’s, Golssen, Berlin, Potsdam

“I know the story of my neighborhood town, and I know the plight that a lot of these people escaped. But I just wanted to set the record straight.”Bartolotta isn’t alone among Republicans fighting these narratives. They’ve pushed for the rhetoric to be toned down as the city deals with a series of bomb threat hoaxes at local schools. Springfield, Ohio, has found itself thrust into the national spotlight over lies about Haitian immigrants. Focus on the major issues that affect everybody.”In Springfield, Rue said he never could have foreseen this attention from the top of his party’s presidential ticket when he won his mayoral election in November.

Persons: Bartolotta, Donald Trump, Trump, Kamala Harris ”, ”, “, ” “, Rob Rue, Melanie Flax Wilt, Sen, JD Vance, Republicans haven’t, Vance, they’ve, They’ve, “ We’ve, ” Rue, Rich, Joseph Facun, ” Trump, Wilt, Rue, he’s, ” Laura Rosenberger, Flax Wilt, you’re, Mike DeWine, DeWine, ‘, ” Bartolotta, ” Sean Logue, Logue, Brian Hughes, Joe Manning, ” Manning, I’m, we’ve, “ I’m Organizations: Republican, Facebook, NBC News, Commission, Republicans, Democratic, Charleroi —, GOP, Springfield, Trump, Washington, Dayton ., NBC News Local, Clark County Republican Party, Ohio Gov, New York Times, Washington County GOP, Pittsburgh Post, Gazette Locations: Pennsylvania, America, Charleroi, ”, Springfield , Ohio, Clark, R, Ohio, Springfield, Arizona , Georgia, Washington County , Pennsylvania, Clark County , Ohio, Pittsburgh . Springfield, Columbus, Dayton, Clark County, Bartolotta, Butler , Pennsylvania, Western Pennsylvania, Mexico, Washington County, “

☆ American Companies' China Profits Are Declining; Increased War Chance
▼ + stars: | 2024-09-22 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Without the promise of profits, American firms are also becoming less willing to go to bat for China — to reinforce the idea that China's market is crucial to the success of their futures. No demandAfter pandemic lockdowns ended in 2023, the Chinese economy experienced what is known on Wall Street as a "dead cat bounce." What money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. Related storiesWhat money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. It gives corporations, already under financial pressure as China's economy declines, even less reason to act as interlocutors encouraging stability between Washington and Beijing.

Persons: Washington —, Xi Jinping, Lee Miller, lockdowns, They're, Xi, Yi Gang, Michael Pettis, Tesla, Elon Musk, it's, Ball, Jamie Dimon, It's, China's, Goldman Sachs, Ray Dalio, seeping, Miller, Kamala Harris, Donald Trump, Harris, —, Trump, Biden, we're, Cordell Hull Organizations: Apple, Nike, Chinese Communist Party, People's Bank of, Carnegie Endowment, China Business Council, Starbucks, Street, Bridgewater Associates, Beijing, East Asia State Department, CCP, Trump, State Department, Republicans, Financial, Broadcom, Nvidia, Biden Administration Locations: China, America, Beijing, Washington, American, South China, Taiwan, People's Bank of China, Shanghai

☆ Boeing machinists on picket lines prepare for lengthy strike: 'I can last as long as it takes'
▼ + stars: | 2024-09-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

Matt Mills Mcknight | ReutersRENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. The financial cost of the strike on Boeing depends on how long it lasts, though ratings agencies have warned that the company could face a downgrade if it drags on too long. Boeing 737 Max planes sit at the airport in Renton, Washington. Boeing Machinists union members count votes to accept or reject a proposed contract between Boeing and union leaders and whether or not to strike if the contract is rejected, at the Aerospace Machinists Union Hall in Seattle, Washington, on September 12, 2024. Boeing's most recent offer included 25% general wage increases over a four-year deal and was endorsed by the machinists union, the International Association of Machinists and Aerospace Workers District 751.

Persons: Matt Mills Mcknight, Cash, Boeing machinists, Boeing hasn't, Kelly Ortberg, Leslie Josephs, Louis, Jake Meyer, Meyer, Ron Epstein, Jason Redmond, today's, Ortberg, Biden, Pete Buttigieg, CNBC's Organizations: Boeing, Reuters, CNBC, Max, state's, Financial Management, Federal Reserve Bank of St, Bank of America, Aerospace Machinists, Hall, AFP, Getty, International Association of Machinists, Aerospace Workers, Workers Locations: Renton , Washington , U.S, Reuters RENTON, Wash, Seattle, Pacific Northwest, Renton , Washington, Renton, machinists, Washington, South Carolina, Seattle , Washington, Pacific, Oregon

☆ Intel and Qualcomm: This 'odd' couple won't solve America's chipmaking woes
▼ + stars: | 2024-09-21 | by ( Alistair Barr | ) www.businessinsider.com time to read: +10 min

Or maybe South Korea, where Samsung has built an impressive so-called foundry business making semiconductors for other companies. AdvertisementThe US company took a major step recently when it separated its Foundry business from its chip-design business. Intel's Foundry business won't really be able to challenge TSMC until it gets several big customers. Intel's Foundry business just needs way more of these customers. How would Intel's Foundry business perform as a separate company, split off from the design parts?

Persons: —, Jerry Sanders, Ian King, TSMC, Globalfoundries, it's, AMD's Sanders, Apple, Ian King's, Raimondo, Gina Raimondo, Bernstein, Stacy Rasgon, that's, Rasgon Organizations: Service, Business, Intel, Samsung, Nvidia, Qualcomm, AMD, Apple, Reuters, TSMC, Foundry, Intel's Foundry, CNBC, Amazon Web Services, Microsoft Locations: Taiwan, South Korea, China, Europe

☆ Every Falsehood, Exaggeration and Untruth in Trump’s and Harris’s Stump Speeches
▼ + stars: | 2024-09-21 | by ( Linda Qiu | Elena Shao | ) www.nytimes.com time to read: +54 min

They’re going to take away your guns, you saw that, they’re going to take away your guns. And at the end it was, “Thank you, thank you, thank, thank, thank, thank, thank, thank.” I said, “What the hell’s… What’s wrong with her?” I say, “Thank you.” And you wait a couple of seconds. “Thank you, thank, thank, thank, thank.” There’s something wrong with her, okay? She was all talk, I’m going to do this and I’m going to do that, and then I’m going to cut tax and then I’m going to give you 25,000 per house and then I’m going to go, over and over. When Biden was president — going to give up the whole thing to Russia, it looks like.

Persons: I’m, Kamala Harris, Rasmussen, We’re, Kamala, Sleepy Joe Biden, ”, “, can’t, Country’s, Harris, we’ve, you’re, You’re, “ Donald Trump, Donald Trump, – Joe Biden, didn’t, Sleepy Joe, ” “ I’m, Joe, That’s, Trump, What’s, Kamala …, she’s, Bernie Sanders, Nancy Pelosi, She’s, let’s, Kamala Harris …, I’ve, David Muir, David Muir barged, Sir, President Trump, FBI …, don’t, –, There’s, Donald J, You’ve, we’ll, – Mr, You’ll, Where’s Harris, would’ve, Jimmy Carter, Xi, Del Cueto, Biden, They’ve, “ They’re, ” They’re, They’re, it’s, it’ll, Let’s, Forbes, Michael, Jacky Rosen, Crooked Joe Biden, Joe Biden’s, Jacky, Sam Brown, Nobody’s, He’s, Joe Lombardo, Joe’s, that’s, It’s, they’re, Tampon Tim, tampons –, Governor Lombardo, we’re, Ding, haven’t, Russia would’ve, Bush, Barack Hussein Obama, —, Russia’s, Korea’s, Muhammad Ali, Muhammad, Henry, “ I’ll Organizations: Philadelphia TV, gaslight, JD, FBI, Department of Justice, of Justice Statistics, Communist, Border, Marxist, Street, The New York Times, New York Times, Washington, White, ICE, DHS, Forbes, United Auto Workers, Biden, Unions, Keystone XL, United States, Paris Climate, Nevada Climate Accord, Police, California, ABC Fake, Trump Reciprocal Trade, Green New, Washington D.C, We’re, America, Make Locations: Las Vegas, Aurora , Colorado, Springfield , Ohio, Colorado, Iowa, Pennsylvania, United States, McDonald’s, – Pennsylvania, ”, America, Idaho . Idaho, Haiti, Chile, Colombia, New York, Chicago, Florida, Middle America, Aurora, Virginia, Tennessee, Honduras, So Nevada, Nevada, American, You’ve, Texas, Western Nevada, Mexico, China, Paris, Russia, Saudi Arabia, California, Nevada , Wisconsin , Pennsylvania, Michigan, Washington, Manhattan, Ukraine, Israel, Italian, Venezuela

☆ Intel's wild week leaves Wall Street more uncertain than ever about chipmaker's future
▼ + stars: | 2024-09-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

The rally provides little relief to CEO Pat Gelsinger, who has had a tough run since taking the helm in 2021. Intel CEO Pat Gelsinger speaks while showing silicon wafers during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023. That prospect would be more palatable to Wall Street if Intel's core business was at the top of its game. Microsoft CEO Satya Nadella said in February that it would use Intel to produce a chip, but didn't provide details. U.S. President Joe Biden listens to Intel CEO Pat Gelsinger as he attends the groundbreaking of the new Intel semiconductor manufacturing facility in New Albany, Ohio, U.S., September 9, 2022.

Persons: Patrick Gelsinger, Brendan Smialowski, Pat Gelsinger, Seth Wenig, Gelsinger, CNBC's Jon Fortt, Intel hasn't, Fortt, Satya Nadella, Joe Biden, Joshua Roberts Organizations: Intel, AFP, Getty, CNBC, Qualcomm, Nvidia, AP, U.S, Taiwan Semiconductor Manufacturing Company, Samsung, Apple, Microsoft, Intel Foundry Locations: Chandler , Arizona, New York, Silicon Valley, Poland, Germany, Malaysian, New Albany , Ohio, U.S

☆ This expensive luggage may be key to LVMH's future — here's how Rimowa's CEO plans to keep growing
▼ + stars: | 2024-09-20 | by ( Brittany Chang | ) www.businessinsider.com time to read: +4 min

It's a luggage maker best known for one product, a grooved aluminum suitcase with a rabid fan base. Despite this, the suitcase company (along with cashmere maker Loro Piana) continued their "excellent momentum," LVMH said. It's "another step in the fashion space," Bonnet-Masimbert said, and a hint of how the company hopes to progress in the coming years. For a company so synonymous with luggage, it was an "interesting challenge," the CEO said — one that took three years to develop. "We feel we are very legitimate in that space, and that opens a lot of future product offerings," Bonnet-Masimbert said.

Persons: —, Louis Vuitton, Tiffany, Rimowa, Brittany Chang, Tumi, Vanessa Garoute, Tania Antonenkova, Martha Stewart, Piana, LVMH, Hugues Bonnet, Masimbert, Lewis Hamilton, Clive Mason, isn't, Bonnet Organizations: Service, Dior, Business, LVMH, tote Locations: Germany, China, Europe, Asia, North America

☆ Europe automaker shares slump after Mercedes becomes latest to cut 2024 guidance
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An employee does final inspections on a Mercedes-Benz C-Class at the Mercedes-Benz US International factory in Vance, Alabama. Mercedes shares fell more than 8% Friday after becoming the latest carmaker to cut its guidance this year as sluggish demand in China and trade disputes weigh on the sector. Shares pared losses slightly to trade 6.9% lower as of 9:40 a.m. London time. "This affected the overall sales volume in China including sales in the Top-End segment. Overall, the sales mix in the second half of 2024 is expected to remain unchanged versus the first half, and therefore weaker than originally expected," the company said.

Persons: Mercedes Organizations: Benz, Mercedes, Benz US International, Volvo, BMW, Continental Locations: Vance , Alabama, China, London

☆ RH CEO explains why his company doesn't have a social media presence
▼ + stars: | 2024-09-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

RH CEO Gary Friedman told CNBC's Jim Cramer on Friday why the upscale home furnishing retailer doesn't have any official social media accounts, saying paid promotions by online influencers aren't authentic. And, you know, having fake fans and people you pay talk about you on Instagram or TikTok or whatnot, it's not the truth." Friedman conceded that social media has exploded, and "the digital visualization and connectivity is real." However, he said that if consumers aren't interested in our showing enthusiasm for the brand, RH should do better work, not pay others to talk about the company. He claimed that RH still has a solid presence online, but not because of paid influencing or social media marketing on the company's part.

Persons: Gary Friedman, CNBC's Jim Cramer, Friedman, it's, RH, There's Locations: London, Paris, Milan, Madrid, U.S, North Carolina

☆ I visited Kraków this summer. 'Emily in Paris' gave it a bad reputation, but my family liked the Polish city better than Rome.
▼ + stars: | 2024-09-20 | by ( Jamie Davis Smith | ) www.businessinsider.com time to read: 1 min

Kraków was full of well-preserved history. We were also fascinated with Rome's ancient history during our Italian vacation, but Kraków surprised us with an incredible mix of older and newer sites. As Luc explained on the episode, the city is special because it remained relatively unscathed during World War II. It's one of the best-preserved cities in Europe, with a charming old town square and an enchanting Jewish quarter. Kraków was also an important place for us to learn more about modern history, including visiting Schindler's Factory and paying respects at nearby Auschwitz-Birkenau.

Persons: Kraków, Jamie Davis Smith, Emily, Luc Organizations: Schindler's Factory Locations: Poland, Rome, Europe, Wawel, Auschwitz, Birkenau

☆ The Boeing strike has already cost the company and its workers $572 million – and the pace of losses is climbing
▼ + stars: | 2024-09-19 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +4 min

New York CNN —The strike at Boeing by 33,000 members of the International Association of Machinists union, which reaches its seventh day today, has already cost the company and workers $572 million, according to an estimate from Anderson Economic Group. “The first week of losses for Boeing are substantial, but they’ll pale in comparison to what comes in the following weeks,” Anderson told CNN. The strike at Boeing (BA), on the other hand, has yet to have a measurable economic impact on airlines so far, Anderson said. The losses for workers, primarily the 33,000 union members who have gone on strike, as well as for suppliers come to about $117 million in the first week. The strike will also cost about $10 million in local losses, including at businesses near the plants, according to Anderson.

Persons: Patrick Anderson, “, ” Anderson, Anderson, Kelly Ortberg, Boeing’s, Max Organizations: New, New York CNN, Boeing, International Association of Machinists, Anderson Economic, CNN, General Motors, Max, Federal Aviation Administration, FAA, Airbus Locations: New York, Michigan, South Carolina

☆ Nike and Adidas veterans are backing a $125M project seeking to revitalize the Portland sportswear industry
▼ + stars: | 2024-09-19 | by ( John Kell | ) www.businessinsider.com time to read: +10 min

The Northeast is the ancestral home of footwear manufacturing in the US, where New Balance still assembles more than 4 million pairs of sneakers each year. But that could soon change with a plan for a $125 million development campus called Made in Old Town. At the federal level, the US government has offered billions in subsidies to support manufacturing, mostly targeting the auto, semiconductor, and solar industries. With the Made in Old Town project, the aim is to generate about 6,000 full-time jobs in Portland by as soon as 2028. A long way to goThe Made in Old Town project is still in its early stages, having raised $15 million of its $125 million goal.

Persons: Portland's, Hilos, —, Keen, Elias Stahl, Portland's Hilos, Stahl, they're, Eric Liedtke, Liedtke, They've, Alo, Armour, Tina Kotek, Noel Kinder, Nike's, Kinder Organizations: Technology Association of Oregon, Chain Management, Service, Nike, Adidas, Bureau of Labor Statistics, Factory, Brands, Columbia, Midwest ., Gov Locations: Old Town, Portland , Oregon, Columbia, Portland's Old, Portland, Vietnam, China, Asia, Old, Germany, North America, Atlanta, Midwest

☆ Inbolt, a French startup using AI to help factory robots 'see,' just raised $16.7 million using this 12-slide pitch deck
▼ + stars: | 2024-09-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Inbolt has raised $16.7 million in Series A funding to enhance 3D vision and AI for robots. The Paris-based startup aims to improve robotic precision and speed in industrial automation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInbolt, a Paris-based 3D vision and AI startup, has raised €15 million ($16.7 million) in Series A funding. The startup wants to make factory production lines more efficient by using 3D vision and AI to help guide robotic arms with greater precision and speed.

Persons: Inbolt, — Organizations: Exor Ventures, Service, Business Locations: Paris, Detroit

The cultural shift has spawned a booming business in divorce photography not only for Tan, but also for other photographers hoping to profit. Photos shared on Chinese social media Xiaohongshu show some couples signing their divorce papers, while others pose with their divorce certificate. Happy divorce,” one user wrote alongside a photo of her marriage and divorce certificates side by side. “It is not shameful to be brave enough to divorce,” Tan said. Faces on old wedding photos are spray-painted, to ensure privacy is respected, before being tossed into a crusher along with other tokens of memories.

Persons: Tan, ” Tan, “, Peng Xiujian, ‘, Peng, it’s, Liu Wei, Liu, Justin Robertson, ” Liu, he’s, Gary Ng, “ I’ll, ” Organizations: Hong Kong CNN, China’s National Bureau of Statistics, Companies, Victoria University, CNN Locations: Beijing, Hong Kong, Henan, China, Australia

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