Business
- arstechnica.com Biden moves to crack down on Shein and Temu, slow shipments into US
Rapid growth of Temu and Shein threatens US businesses and consumers, Biden says.
> Rapid growth of Temu and Shein threatens US businesses and consumers, Biden says.
- www.engadget.com OpenAI is reportedly moving away from its complicated non-profit structure next year
Sam Altman has reportedly told OpenAI staff members that they're moving away from its non-profit structure.
> Sam Altman has reportedly told OpenAI staff members that they're moving away from its non-profit structure.
- • 93%www.motherjones.com Senators slam private equity–fueled hospital giant in charged hearing
Steward Health Care declared bankruptcy in May—after years of sacrificing patient care for profits.
- www.cnn.com After 155 years, the Campbell Soup company is changing its name | CNN Business
The 155-year-old Campbell Soup Company plans to drop “soup” from its corporate name and rebrand as The Campbell’s Company.
"The 155-year-old Campbell Soup Company plans to drop “soup” from its corporate name, rebranding as The Campbell’s Company. More consumers are reaching for snacks and ditching ready-to-serve soups, and the company has bought up other food lines to grab them."
- • 99%gizmodo.com Apple Ordered to Pay $14 Billion in Back Taxes
The EU is ordering tech companies to pay billions while the U.S. talks about social media warning labels.
- gizmodo.com Microsoft Lays Off 650 People in Its Gaming Division
The move comes after the software giant went on a corporate spending spree.
- www.matthewball.co Breaking Down OnlyFans’ Stunning Economics — MatthewBall.co
Due to UK disclosure requirements, it's possible to examine the P&L of the privately owned/controlled OnlyFans. And the results are shocking.
- https:// www.reuters.com /business/retail-consumer/retail-consumer-ceos-see-shorter-tenures-boards-act-more-quickly-2024-09-10
"The tenure for U.S. retail and packaged goods company CEOs has this year on average been about 7 months shorter than chiefs who were in office in 2024 in the autos, finance, tech and manufacturing industries, data to August 31 from executive compensation research firm Equilar show."
- arstechnica.com DOJ claims Google has “trifecta of monopolies” on Day 1 of ad tech trial
Ad tech monopoly trial may hurt Google more than DOJ’s search case, experts say.
cross-posted from: https://lemmy.world/post/19594676 > Ad tech monopoly trial may hurt Google more than DOJ’s search case, experts say.
- www.cnn.com Big Lots files for bankruptcy | CNN Business
Big Lots, the beleaguered discount retailer that previously warned it had “substantial doubt” about its survival, has filed for bankruptcy.
- • 87%grist.org As fast fashion giant Shein embraces AI, its emissions are soaring
The company nearly doubled its emissions in 2023.
- www.zerohedge.com Futures Rise Ahead Of Trump-Harris Debate
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
The budget deficit to the country’s GDP ratio was at minus 8.3 per cent in August, increasing from minus 7.6 per cent in June and minus 6.2 per cent in March and minus 4.1 per cent last December.
The budget deficit was at 84 billion shekels ($22.38 billion) this January to August, versus a surplus of 0.3 billion shekels ($79.9 million) in the same period last year.
While the country’s expenditures jumped 31.8 per cent year-on-year in the first eight months, revenues rose just 4 per cent, Israeli Finance Ministry data showed on Sunday.
In August alone, the budget deficit was at 12.1 billion shekels ($3.22 billion).
- www.prnewswire.com 7UP® ELEVATES ITS MIXOLOGY GAME WITH A NEW GLOBAL CAMPAIGN AND REFRESHING BRAND PLATFORM
/PRNewswire/ -- #LEVELUPWITH7UP - 7UP® is excited to reveal its latest campaign 'Level Up With 7UP' a new global platform dedicated to those who are looking to...
cross-posted from: https://lemmy.world/post/19496775
- arstechnica.com Leaked Disney+ financials may shed light on recent price hike
Disney+ finally profitable but not making as much per subscriber as competition.
> Disney+ finally profitable but not making as much per subscriber as competition.
- • 92%www.dropsitenews.com French Insurance Firm Succumbs to Years-Long Pressure to Divest From Israeli Banks
The move comes after years of pressure
AXA, the multi-billionaire dollar insurance company, had been the target of a years-long effort led by Ekō, an international ethical-investing advocacy organization, pressuring it to unwind its holdings in the companies. In August, Ekō published an analysis showing AXA had unwound its previous holdings in Bank Hapoalim, Bank Leumi, and Israel Discount Bank. AXA has also not reinvested in previously held positions in Bank Mizrahi-Tefahot or First International Bank of Israel, two additional targets of the campaign.
The banks were listed in a United Nations database of companies deemed complicit in maintaining the illegal occupation of the West Bank. “Foreign businesses that invest in these banks are complicit in Israeli war crimes,” said Leili Kashani, a senior campaigner at Ekō.
Until September of last year, AXA held 2.5 million shares in the three designated banks, worth around $20.4 million. But by June of this year, the company had effectively zeroed out its holdings, Ekō found. AXA’s portfolio still includes a residual position of 16,290 shares of Bank Leumi stock. Profundo, an independent research organization which contributed to the report, attributed that holding to “reporting and internal accounting delays” and deemed the sell-offs a “full divestment.”
- www.cnn.com Mixed news on US jobs: Unemployment rate falls but hiring is slowing | CNN Business
The US economy was expected to have added 160,000 jobs last month with the unemployment rate dropping to 4.2% from 4.3%.
- www.cnbc.com S&P 500 tumbles Friday to post worst week since 2023, Nasdaq drops 2% for worst weekly performance since 2022: Live updates
The S&P 500 fell Friday and notched its worst week since March 2023.
- www.businessinsider.com Google has a fast-growing new business with 'Apple-like' rocketship potential: getting you to pay for subscriptions
AI chatbots and new features are boosting Google's subscription business, which an analyst says could rival Apple-like revenue.
- • 92%finance.yahoo.com Chain once known as Lumber Liquidators is going out of business, will be liquidated
It’s known as LL Flooring these days.
- • 96%
7-Eleven rejects multibillion-dollar offer from Circle K owner for huge convenience store merger
www.cnn.com 7-Eleven rejects offer from Circle K owner for huge convenience store merger | CNN BusinessThe operator of 7-Eleven has rejected an opening offer from the owner of convenience store rival Circle K, saying its business is worth more.
- www.theregister.com VMware revenue bounces for Broadcom, chips not so much
CEO says market for non-AI silicon has bottomed out
> CEO says market for non-AI silicon has bottomed out
- kffhealthnews.org Errors in Deloitte-Run Medicaid Systems Can Cost Millions and Take Years To Fix - KFF Health News
As states wait for Deloitte to make fixes in computer systems, Medicaid beneficiaries risk losing access to health care and food.
- www.engadget.com The US government may be preparing to investigate internet retail giants like Shein and Temu
The Consumer Product Safety Commission wants to question the operations of online discount retailers like Shein and Temu.
> The Consumer Product Safety Commission wants to question the operations of online discount retailers like Shein and Temu.
- • 71%www.vox.com Why Nvidia triggered a stock market freakout
What does Nvidia’s massive stock sell-off tell us about the economy?
cross-posted from: https://lemmy.world/post/19388103
- • 100%theconversation.com Poor people are business owners, too – but myths around poverty and entrepreneurship hold them back
A poverty expert debunks the false narratives that hold back disadvantaged entrepreneurs.
- https:// archive.fo /rnbPf
cross-posted from: https://lemmy.world/post/19215432
- • 95%www.newsweek.com Kroger executive admits company gouged prices above inflation
Kroger's senior director for pricing Andy Groff said the grocery giant had raised prices for eggs and milk beyond inflation levels.
cross-posted from: https://lemmy.world/post/19193010
- www.theregister.com Nvidia's growth slows to a mere 122 percent
Still growing in China, ramping Hopper prods and predicting Blackwell billions soon
- www.engadget.com HP secures up to $50 million in CHIPS Act funding to expand an Oregon facility
HP is the latest recipient of CHIPS and Science Act funding. The Biden-Harris Administration said today that the Department of Commerce has agreed to preliminary terms with HP to funnel up to $50 million for expanding and modernizing the company’s Oregon-based plant.
> HP is the latest recipient of CHIPS and Science Act funding. The Biden-Harris Administration said today that the Department of Commerce has agreed to preliminary terms with HP to funnel up to $50 million for expanding and modernizing the company’s Oregon-based plant.
- arstechnica.com Feds award $521 million in EV charger funds, but rollout remains slow
The awards are part of a $7.5 billion program for EV charger infrastructure.
> The awards are part of a $7.5 billion program for EV charger infrastructure.
- kffhealthnews.org Feds Killed Plan To Curb Medicare Advantage Overbilling After Industry Opposition - KFF Health News
A private 2014 decision by the Centers for Medicare & Medicaid Services faces new scrutiny in a multibillion-dollar Justice Department fraud case against UnitedHealth Group.