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Tag: Consumer products and services

  • A medley of tech gifts for everyone on your holiday shopping list

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    NEW YORK (AP) — It’s the most wonderful time of the year, unless you want to find the perfect gifts for tech lovers.

    There’s a lot of slop to sift through as we get closer to the holidays, many interests to appeal to and a whole bunch of deals-that-aren’t-deals flashing before our screens. So here’s a guide — and some sales — to help you get started on your gift shopping journey.

    For your gamers

    The Nintendo Switch 2 was the biggest and most anticipated console launch of 2025, and if history is any indication, it will be increasingly harder to find as Christmas approaches. But for the gamers in your life — both young and adult — this is the gift to get.

    Nintendo’s Black Friday deals for the console and games have been announced but the best bang for your buck may be the console bundles. The Switch 2 is still available as just the console only for $449 or bundled with Mario Kart World for $499. A new $499 bundle is now available where the console is packaged with Pokémon Legends: Z-A. Games retail for about $70 a piece, so you do save a little with bundles.

    Need a new iPhone?

    The iPhone Air and iPhone 17 Pro Max captured the headlines this year when the new lineup launched, but the base iPhone 17 received an upgraded camera (telephoto lens), more base storage and a longer battery life. Given the price for this model hasn’t changed, you’re straight up getting more tech for the same price. If your gift recipient’s current iPhone is a few generations behind, this is a good time to consider an upgrade.

    What about AI? The iPhone 17 doesn’t make as many leaps into the technology as its predecessor, but the new iOS and processer prepares the phone for any advancements that may come in 2026. The iPhone 17 retails at $800.

    Or maybe you’d like a foldable phone?

    If you or someone in your life has ever been curious about a foldable phone, consider Samsung’s newest Galaxy Z Fold 7 model. This phone solves many of the issues users have been concerned about since fold phones hit the market: It’s much thinner and lighter than its predecessors — 0.17 inches thick when unfolded and less than half an inch folded — and it weighs slightly less than half a pound, impressive considering they boosted the size of all the screens.

    But the price of a fold phone remains steep compared to the flagship iPhone and Galaxy devices. The Z Fold 7 currently is running a sale on its site but normally retails starting at $1,999.

    Planning to shoot more video or pictures?

    For anyone interested in doing more filming or photography with their mobile device, this supremely portable tripod by SelfieShow offers solid stability even when extended to its max height of 71 inches. The mounting arm also offers a wide array of positioning for shooters on the go. And the rig can collapse into a retractable selfie stick for even more functionality and portability.

    This portable tripod retails for $19.99.

    Recording clearer audio

    For aspiring influencers, podcasters or vloggers in your life, try these wireless microphones by Hollyland. The Lark M2 Wireless Microphone mics are easy to use, have good range and do well in filtering out background noise. You can easily attach these to clothes for interviews or even hold them for the tiny mic lifestyle. Best of all, it comes with two mics per order.

    These mics are currently on sale for $76.

    There’s always someone who wants a TV

    For those TV lovers who just want a little more for their gaming or cinematic experience, consider Samsung’s S90F OLED TV. This higher-end TV offers excellent contrast, colors and Ethernet performance. It also can act as a giant monitor if you want to plug your PC/gaming console into it, offering VRR support up to 144Hz on all four of its HDMI ports. For those who like to add sound systems or other peripherals to their TV, it also offers an additional three USB-A ports and one USB-C port.

    Normally this TV retails around $1,800, but an ongoing holiday promo (until Dec. 1) puts it, at 55 inches, at $1,199.99.

    Typing on the go

    Portability is core to the Logitech Pebble 2 wireless keyboard and mouse combo. This minimalist and highly functional offering by Logitech will satisfy on-the-go users who are looking for a silent, but still tactile, Bluetooth mouse and keyboard. It also offers a one-tap, multi-device switching option if you’ve already paired it with said devices — which include Android tablets and Apple iPads in addition to laptops — a great feature if you’re multitasking.

    The combo comes in several colors and retails for $49.99. If you’re OK with black, Walmart has a deal for $42.

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    For more AP gift guides and holiday coverage, visit https://apnews.com/hub/gift-guide and https://apnews.com/hub/holidays.

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  • Slime, Battleship and Trivial Pursuit join the Toy Hall of Fame

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    Slime, that gooey, sticky and often-homemade plaything, was enshrined into the National Toy Hall of Fame on Thursday along with perennial bestselling games Battleship and Trivial Pursuit.

    Each year, the Hall of Fame recognizes toys that have inspired creative play across generations, culling its finalists from among thousands of nominees sent in online. Voting by the public and a panel of experts decides which playthings will be inducted.

    Milton Bradley’s Battleship, a strategy game that challenges players to strike an opponent’s warships, and Trivial Pursuit, which tests players’ knowledge in categories like geography and sports, have each sold more than 100 million copies over several decades, according to the Hall of Fame.

    Battleship started as a pencil-and-paper game in the 1930s, but it was Milton Bradley’s 1967 plastic edition with fold-up stations and model ships that became a hit with the public. Its popularity crested when Universal Pictures and Hasbro, which now owns Milton Bradley, released the 2012 movie, “Battleship,” loosely based on the game. Battleship was also among the first board games to be computerized in 1979, according to the Hall of Fame, and now there are numerous, electronic versions.

    Trivial Pursuit lets players compete alone or in teams as they maneuver around a board answering trivia questions in exchange for wedges in a game piece. Canadian journalists Chris Haney and Scott Abbott came up with the game in 1979 and eventually sold the rights to Hasbro. Frequently updated, specialty versions have emerged for young players, baby boomers and other segments and an online daily quiz keeps players engaged, chief curator Chris Bensch said.

    Slime’s appeal is more about squish than skill.

    It was introduced commercially in 1976 and has been manufactured under various brand names, but it is even more accessible as a do-it-yourself project. The internet offers a variety of recipes using ingredients like baking soda, glue and contact lens solution.

    “Though slime continues to carry icky connotations to slugs and swamps — all part of the fun for some — the toy offers meaningful play,” curator Michelle Parnett-Dwyer said, adding that it’s also used for stress relief and building motor skills.

    The honorees will be on permanent display at the Hall of Fame inside The Strong National Museum of Play in Rochester, New York.

    This year’s inductees were voted in over other nominees including the games Catan and Connect Four, the Spirograph drawing device, the “Star Wars” lightsaber, Furby and Tickle Me Elmo. They also beat out classics including scooters, cornhole and snow.

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  • France moves to suspend Shein’s online market over listings for illegal weapons and sex dolls

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    PARIS (AP) — France’s government said Wednesday it is moving toward suspending access to the Shein online marketplace until it proves its content conforms to French law, after authorities found illegal weapons and child-like sex dolls for sale on the fast-fashion giant’s website.

    The Finance Ministry said the government made the decision after officials found “large quantities” of illegal “Class A” weapons on Shein’s popular e-commerce platform Wednesday, following the discovery last week of illegal sex dolls with childlike characteristics. The ministry did not detail which weapons were found, but the Class A includes firearms, knives and machetes as well as war material.

    The ministry said if the prohibited items remain, authorities may suspend the site in France.

    The decision came on the same day that Shein opened its first permanent store in Paris inside one of the city’s most iconic department stores. The opening drew crowds of shoppers to the BHV Marais, but also a small group of protesters who briefly disrupted the opening by waving anti-Shein signs before they were escorted out by security.

    The ministry did not say whether its decision would impact the physical store. It added that a first progress report would be provided within 48 hours.

    Shein, founded in China in 2012 and now based in Singapore, pledged to work with French authorities to “address any concerns swiftly as we have always done and we are seeking dialogue with the authorities and government bodies on this issue.”

    French authorities can order online platforms to remove clearly illegal content, such as child sexual abuse materials, within 24 hours. If they fail to comply, authorities can require internet service providers and search engines to block access and delist the site.

    Ordering from Shein’s French website was still possible Wednesday following the government’s announcement.

    Frédéric Merlin, president of Société des Grands Magasins (SGM,) which owns the BHV department store, praised the government’s move. “I am satisfied with this decision and I hope that, in the end, we will be able to stop selling illicit products on these marketplaces,” Merlin said.

    Still, the backlash over the sex doll listings could be a “massive red flag” to investors and become a roadblock to the company’s ambitions of going public, according to Neil Saunders, managing director of research firm GlobalData.

    The episode feeds into the view that Chinese-founded marketplaces “are the Wild West of e-commerce, where there is very little compliance, and they don’t really adhere to established rules, that they don’t have full control over the platforms,” Saunders said. “And that is a problem because if you’re looking to expand, you have to abide by national laws.”

    Saunders noted there’s a big difference in having counterfeit merchandise and questionable merchandise on a site. Child sexual abuse material “crosses an important moral boundary,” he said.

    Store opening draws shoppers and demonstrators

    SGM has called the sale of the sex dolls unacceptable, but praised Shein for its swift response to defuse the controversy.

    Shein said earlier that it has banned all sex-doll products, and temporarily removed its adult products category for review. The company had also announced that it would temporarily suspend listings from independent third-party vendors in its marketplace, and launched an investigation to determine how the dolls listings bypassed its screening measures.

    Even before the backlash over the sex doll listings, the decision by Shein to launch its first physical store in the heart of France’s fashion capital had faced criticism from environmental groups, Paris City Hall and France’s ready-to-wear industry.

    The retail giant has long drawn criticism over its poor green credentials and labor practices. An online petition opposing the Paris opening surpassed 120,000 signatures

    Ticia Ones, a regular Shein online customer living in Paris, said the main reason she visited the store on Wednesday was the opportunity to see items in person before buying.

    “We can see what we order, touch the items, it’s a good thing,” she said, adding that the brand’s low prices were a strong draw despite the controversy. “I’m not going to comment on the quality, but price is definitely appealing.”

    The BHV store has been going through financial struggles in recent years and its owners believe the arrival of Shein will help revive business — even as some brands have chosen to leave the store in protest.

    “We are proud to have a partner who has spoken out firmly,” said Karl-Stéphane Cottendin, the chief operating officer of SGM. “We are very happy to be opening the boutique.”

    Environmental and ethical concerns

    Shein has risen rapidly to become a global fast-fashion giant. Selling mostly Chinese-made clothes and products at bargain prices, the retailer has drawn criticism over allegations that its supply chains may be tainted by forced labor, including from China’s far-west Xinjiang province, where rights groups say serious human rights abuses were committed by Beijing against members of the ethnic Uyghur group and other Muslim minorities.

    Cottendin dismissed those concerns and praised Shein for doing a “tremendous job” to improve its practices.

    “Today, it’s a brand that produces under much more legitimate conditions,” he said. “We ensured that the entire production chain, from manufacturing to delivery, complies strictly with French and European regulations and standards.”

    Fast fashion, characterized by a constant turnover of collections and very low prices, has flooded European markets with low-quality items, driving environmental, social, and economic costs. The United Nations has warned that the textile industry alone is responsible for nearly 10% of global greenhouse gas emissions and contributes to water depletion.

    France is now moving to curb the growing influence of companies based in Asian countries such as Shein, Temu and AliExpress. A draft law targets fast fashion with measures such as consumer awareness campaigns, advertising bans, taxes on small imported parcels and stricter waste management rules.

    “It’s a black day for our industry,” said Thibaut Ledunois, director of entrepreneurship and innovation at the French federation of women’s ready-to-wear. He added that Shein’s Paris opening was an attempt to justify “all the bad, and sad and horrible business that they develop all around the world.”

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  • France threatens to block Shein over sale of childlike sex dolls ahead of Paris store opening

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    PARIS (AP) — French authorities have warned they may block access to Shein after it emerged that the online fast fashion giant had been selling sex dolls with a childlike appearance.

    France’s consumer watchdog, the Directorate General for Competition, Consumer Affairs and Fraud Control, said last week it had discovered the dolls on Shein’s website, noting that their descriptions and categorization left little doubt as to their child-pornographic nature.

    The agency has referred the case to public prosecutors, and Economy Minister Roland Lescure said on Monday he would seek to ban Shein from the French market if such incidents were to occur again.

    “This is provided for by law,” he said. “In cases involving terrorism, drug trafficking, or child pornographic materials, the government has the right to request that access to the French market be prohibited,” Lescure told BFM TV.

    The law authorizes French authorities to order online platforms to remove clearly illegal content such as child pornography within 24 hours. If they fail to comply, authorities can require internet service providers and search engines to block access and delist the site.

    The watchdog said it has issued a formal notice urging the platform to take urgent corrective measures.

    Shein said in a statement that it has banned all sex-doll products, and temporarily removed its adult products category for review. It added that it has launched an investigation to determine how these listings bypassed its screening measures.

    “The fight against child exploitation is non-negotiable for Shein,” said Executive Chairman Donald Tang said in the statement. “These were marketplace listings from third-party sellers, but I take this personally. Trust is our foundation, and we will not allow anything that violates it.”

    He noted that every related product has been removed and that “We are tracing the source and will take swift, decisive action against those responsible.”

    Meanwhile, a parliamentary fact-finding mission on the inspection of products imported into France announced it will summon Shein officials for questioning.

    “No economic actor can consider themselves above the law. A retailer who sold such an item would have had their store immediately closed by a prefectoral order. Shein must provide an explanation,” said the mission rapporteur, Antoine Vermorel-Marques.

    Under French law, the distribution via electronic communication networks of child-pornographic materials is punishable by up to seven years in prison and a 100,000 euro ($115,000) fine.

    The watchdog also noted that Shein sells other pornographic products including adultlike sex dolls without effective age-filtering measures to prevent “minors or sensitive audiences from accessing such pornographic content.”

    Shein was founded in China in 2012, and the low-cost online retailer is now based in Singapore. Reaching customers mainly through its app, it has enjoyed a meteoric rise to become a global leader in fast fashion, shipping to 150 countries. The company has faced criticism over its labor practices and environmental record.

    Lescure’s comments came just days before Shein is due to open its first permanent physical store in Paris, located inside the BHV Marais department store in the heart of the French capital city. The opening has sparked controversy, with an online petition protesting Shein’s arrival gathering more than 100,000 signatures.

    Frederic Merlin, president of Societe des Grands Magasins, which owns BHV, called the sale of the dolls on Shein’s platform “indecent” and “unacceptable,” adding that “no product from Shein’s international marketplace” will be sold at the department store.

    Meanwhile, the child-protection NGO Mouv’Enfants staged a protest at BHV. “As long as these dolls are available somewhere in the world, the company will remain an accomplice to a system that enables sex crimes against children,” co-founder Arnaud Gallais said.

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  • Japanese game maker Nintendo reports zooming sales, profit on its Switch 2 machine

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    TOKYO — Japanese video-game maker Nintendo’s net profit jumped 85% in April-September from the year before, as its sales more than doubled following the launch of its hit Switch 2 console in June, the company said Tuesday.

    Nintendo, based in Japan’s ancient capital of Kyoto, said its profit for the half-year totaled 198.9 billion yen, or $1.3 billion, up from 108.6 billion yen the year before.

    Sales for the first half of this fiscal year rose to nearly 1.1 trillion yen ($7.1 billion) from 523 billion yen in the same period of 2024.

    Nintendo, which makes Super Mario and Pokemon games, did not provide a break down of quarterly data.

    Nintendo’s video game sales were solid, although with no new movies revenue from its content business slowed.

    Nintendo raised its profit forecast for the full fiscal year through March 2026 to 350 billion yen ($2.3 billion). Previously, it had expected a 300 billion yen ($1.9 billion) profit.

    It also raised its forecast for Switch 2 machine sales to 19 million units from the earlier 15 million.

    Nintendo says it had sold more than 10 million Switch 2s by the end of September. Popular Switch 2 game software include “Mario Kart World” and “Donkey Kong Bananza.”

    Sales of the older Nintendo Switch have fallen, but Switch game sales are still going strong because they can be played on Switch 2 machines.

    Analysts expect Nintendo’s earnings to stay strong with the upcoming holiday season, when it tends to do well. They also expect key new games in the Pokemon and Kirby franchises.

    Nintendo stocks, which have been rising relatively steadily over the past year, fell 0.8% on Tuesday.

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    Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama

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  • Procter & Gamble fiscal 1Q results top Street, sees less of an impact from tariffs for fiscal 2026

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    Procter & Gamble fiscal first-quarter performance managed to top Wall Street’s view and the consumer products maker now foresees less of an impact from tariffs for fiscal 2026.

    Shares of the maker of products such as Crest toothpaste, Tide detergent and Charmin toilet paper rose about 1% in morning trading Friday.

    For the three months ended Sept. 30, P&G earned $4.75 billion, or $1.95 per share. Removing restructuring costs, earnings were $1.99 per share.

    That handily beat the $1.90 per share analysts surveyed by Zacks Investment Research were calling for.

    Revenue totaled $22.39 billion, topping Wall Street’s estimate of $22.15 billion. Sales climbed 6% for the beauty segment, which includes Head & Shoulders, Pantene and Olay. Grooming sales, featuring Braun and Gillette, rose 5%.

    The Cincinnati-based company is now expecting tariffs leading to $400 million in after-tax costs for fiscal 2026. That’s down from a prior forecast of $800 million in after-tax costs.

    In July P&G said that it would raise prices on about a quarter of its products in the U.S. in part due to higher costs from President Donald Trump’s tariffs. The company also said it would offer improved features in the products. That announcement came three months after P&G said that it was doing whatever it could to reduce higher costs from Trump’s expansive tariffs, from shifting sourcing to changing formulation to avoid duties.

    The impact of tariffs on many companies remains in flux. Late Thursday President Donald Trump announced he’s ending “all trade negotiations” with Canada because of a television ad opposing U.S. tariffs that he said misstated the facts and called “egregious behavior” aimed at influencing U.S. court decisions. More than three-quarters of Canadian exports go to the U.S., and nearly $3.6 billion Canadian ($2.7 billion U.S.) worth of goods and services cross the border daily.

    Looking ahead, P&G still anticipates fiscal full-year earnings between $6.83 and $7.09 per share. The company also kept its guidance for sales growth of 1% to 5%.

    Analysts polled by FactSet predict full-year earnings of $6.97 per share.

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  • Musk’s rollercoaster year: From boycotts to a potential trillion-dollar payday

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    NEW YORK — NEW YORK (AP) — If someone left a government job with a black eye, literally, ran a company with shrinking profits, and suddenly had federal investigators crawling over their business, you might say they’re having a bad year.

    But most people are not Elon Musk.

    The world’s richest man has only gotten richer this year and shareholders at Tesla, his electric car company, may make him wealthier yet by approving a trillion-dollar pay package in a bet he will succeed with new plans for a “robot army” and other technological breakthroughs even as some past promises remain unfulfilled.

    “The genius of Elon Musk is keeping investors focused on what the company might look in like 5 or 10 years — while ignoring very near-term challenges,” marvels Garrett Nelson of CFRA Research. Or put more bluntly by Zacks Investment’s Brian Mulberry, “Your average CEO would likely not survive this.”

    Musk started out the year with a side hustle — promising to cut $2 trillion in government spending as head of President Donald Trump’s Department of Government Efficiency, before cutting that pledge in half. In the end, DOGE posted only $240 billion in savings, according to its own notoriously unreliable estimates, and it’s not even clear those savings will hold as the Trump administration scrambles to refill many essential jobs DOGE cut that it shouldn’t have.

    “There is a pattern of them announcing great big firings, and then turning about and saying, ’No, that’s a mistake,’” said Elaine Kamarck, a Brookings Institute senior fellow who has compiled a list of 17,000 positions being refilled. “They cut without a plan, without regard to function.”

    Musk used the same slash-and-burn tactics after he took over Twitter and evidence of that backfiring has emerged this year, too.

    In the past two months, he’s settled a pair of lawsuits filed by 2,000 former Twitter employees and executives alleging that they were pushed out under false pretenses or never given severance as promised. The amount the ex-workers got was undisclosed, but if they received even a fraction of the combined $628 million they were demanding, the cost will cut deeply for a company whose advertising has plunged since his takeover.

    More bad news for Musk came Wednesday when Tesla announced earnings had plunged 37% in the third quarter. Vehicle sales rose 6% as customers rushed to take advantage of a federal tax credit before it expired last month, but the figure for the full year is expected to drop significantly as car buyers turned off by Musk’s right-wing political stances have boycotted the business.

    This time a year ago Musk was telling investors sales could grow 20% to 30%.

    The stock fell earlier this year as the bad news piled up. But after Musk appeared in the Oval Office in May for his farewell to DOGE sporting a shiner, it has doubled and is now posting a year-to-date gain of nearly 9% after the close of regular trading Wednesday. His net worth has also jumped — up $62 billion this year to $483 billion, according to Forbes magazine.

    Investors are mostly buying Musk’s line that plunging car sales don’t matter as much now because the future of the company lies more with his new driverless robotaxis service, the energy storage business and building robots for the home and factory. To make his task worth while, Tesla’s directors are asking shareholders to sign off on his enormous new pay package at an annual meeting next month.

    But there are big questions surrounding these endeavors, particularly the driverless cabs.

    Musk’s robotaxis, which began picking up passengers in Austin, Texas, and San Francisco this summer, can’t yet be called driverless because they still require “safety monitors” who are ready to seize control in case something goes wrong, which occasionally happens. One of them drove down the opposing lane, for example.

    The robotaxi plans need approval from regulators in various states even as the ones in Washington have swarmed the company.

    They’ve opened four investigations into Tesla so far this year, including one into why it hasn’t reported accidents involving its self-driving software quickly to the government as required. Another launched earlier this month is looking into dozens of reported accidents in which Teslas using self-driving software ran red lights and broke other traffic rules, occasionally crashing into other vehicles and causing injuries.

    Musk has disappointed before, talking big and missing deadlines repeatedly, only to deliver for shareholders eventually. Tesla investors who held on through a tough 2018 as the company struggled to produce its Model 3 vehicle at a profit, eventually saw their stock soar as sales jumped.

    One money manager who rode that earlier surge then bought again earlier this year, says she’s confident Musk’s magic is still there and he can pull off the seemingly impossible again.

    “He frequently teeters on the edge of disaster,” said Nancy Tengler in a statement, “and then pulls back just in the nick of time.”

    One difference now is most other Tesla investors also believe this and have bought up the stock, leaving little room for error.

    Shares of U.S. companies in the S&P 500 index are valued at 24 times what investors expect them to earn next year. By contrast, Tesla is trading at 250 times expected profits, enough to make you believe that Musk, instead of having a very bad year is having a spectacular one.

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  • Broadway musicians reach labor deal, averting a strike

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    NEW YORK — NEW YORK (AP) — The union representing Broadway’s musicians reached a tentative labor agreement with commercial producers on Thursday, averting a potentially crippling strike that would have silenced nearly two dozen musicals.

    The American Federation of Musicians Local 802 — which represents 1,200 musicians — had threatened to strike if they didn’t have a new contract by the morning, after going into mediation Wednesday.

    Early Thursday, the union said it had struck a tentative deal that includes wage increases and contribution increases to the health fund.

    “This three-year agreement provides meaningful wage and health benefit increases that will preserve crucial access to healthcare for our musicians while maintaining the strong contract protections that empower musicians to build a steady career on Broadway,” AFM Local 802 President Bob Suttmann said in a statement.

    The 23 shows that could have gone silent ranged from megahits like “Hamilton” and “The Lion King” to newcomers like “Queen of Versailles” and “Chess,” which are still in previews. Plays would not have been automatically impacted.

    It was the second Broadway labor deal in less than a week. Labor tensions had already seemed cool after Actors’ Equity Association — which represents over 51,000 members, including singers, actors, dancers and stage managers — announced a new three-year agreement with producers over the weekend.

    Members of both unions had been working under expired contracts. The musicians’ contract expired on Aug. 31, and the Equity contract expired Sept. 28.

    The health of Broadway — once very much in doubt due to the coronavirus pandemic that shut down theaters for some 18 months — is now very good, at least in terms of box office. It has been a long road back from the days when theaters were shuttered and the future looked bleak, but the 2024-2025 season took in $1.9 billion — the highest-grossing season in recorded history, overtaking the pre-pandemic previous high of $1.8 billion during the 2018-2019 season.

    The unions pointed to the financial health of Broadway to argue that producers could afford to up pay and benefits for musicians and actors. Producers, represented by The Broadway League, had countered that the restored health of Broadway could be endangered by potential ticket price increases to accommodate the demands.

    The most recent major strike on Broadway was in late 2007, when a 19-day walkout by stagehands dimmed the lights on more than two dozen shows and cost producers and the city millions of dollars in lost revenue.

    On Wednesday, three U.S. senators from New York and New Jersey — Democrats Kirsten Gillibrand, Cory Booker and Andy Kim — wrote to both sides, urging them to “participate in good faith negotiations and continued communication.” The senators noted that Broadway supports nearly 100,000 jobs and is “an essential cornerstone in the economic well-being of surrounding businesses and sectors, including hospitality, retail and transportation.”

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  • American e-waste causing ‘hidden tsunami’ in Southeast Asia, watchdog report says

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    HANOI, Vietnam — HANOI, Vietnam (AP) — Millions of tons of discarded electronics from the United States are being shipped overseas, much of it to developing countries in Southeast Asia unprepared to safely handle hazardous waste, according to a new report released Wednesday by an environmental watchdog.

    The Seattle-based Basel Action Network, or BAN, said a two-year investigation found at least 10 U.S. companies exporting used electronics to Asia and the Middle East, in what it says is a “hidden tsunami” of electronic waste.

    “This new, almost invisible tsunami of e-waste, is taking place … padding already lucrative profit margins of the electronics recycling sector while allowing a major portion of the American public’s and corporate IT equipment to be surreptitiously exported to and processed under harmful conditions in Southeast Asia,” the report said.

    Electronic waste, or e-waste, includes discarded devices like phones and computers containing both valuable materials and toxic metals like lead, cadmium and mercury. As gadgets are replaced faster, global e-waste is growing five times quicker than it’s formally recycled.

    The world produced a record 62 million metric tons in 2022. That’s expected to climb to 82 million by 2030, according to the United Nations’ International Telecommunication Union and its research arm, UNITAR.

    That American e-waste adds to the burden for Asia, which already produces nearly half the world’s total. Much of it is dumped in landfills, leaching toxic chemicals into the environment. Some ends up in informal scrapyards, where workers burn or dismantle devices by hand, often without protection, releasing toxic fumes and scrap.

    About 2,000 containers — roughly 33,000 metric tons (36,376 U.S. tons) — of used electronics leave U.S. ports every month, according to the report. It said the companies behind the shipments, described as “e-waste brokers,” typically don’t recycle the waste themselves but send it to companies in developing countries.

    The companies identified in the report include Attan Recycling, Corporate eWaste Solutions or CEWS, Creative Metals Group, EDM, First America Metal Corp., GEM Iron and Metal Inc., Greenland Resource, IQA Metals, PPM Recycling and Semsotai.

    Six of the companies didn’t immediately respond to emailed requests for comment.

    Semsotai told The Associated Press that it doesn’t export scrap, only working components for reuse. It accused BAN of bias.

    PPM Recycling told The Associated Press that its warehouses in California and Texas ship only aluminum and other non-iron metals to Malaysia. It said BAN had exaggerated shipment volumes, adding that it used accurate trade codes and followed U.S. and international rules.

    Greenland Resource told The Associated Press it took the allegations seriously and was reviewing the matter internally and couldn’t comment further without seeing the report.

    CEWS said it follows strict environmental standards, but some aspects of where and how recycled materials are handled are industrial secrets.

    The report estimated that between January 2023 and February 2025, the 10 companies exported more than 10,000 containers of potential e-waste valued at over $1 billion, the report said. Industrywide, such trade could top $200 million a month.

    Eight of the 10 identified companies hold R2V3 certifications — an industry standard meant to ensure electronics are recycled safely and responsibly, raising questions about the value of such a certification, the report said.

    Several companies operate out of California, despite the state’s strict e-waste laws requiring full reporting and proper downstream handling of electronic and universal waste.

    Many e-waste containers go to countries that have banned such imports under the Basel Convention, which is an international treaty that bars hazardous waste trade from non-signatories like the U.S., the only industrialized nation yet to ratify it.

    The nonprofit said its review of government and private trade records from ships and customs officials showed shipments were often declared under trade codes that did not match those for electronic waste, such as “commodity materials” like raw metals or other recyclable goods to evade detection. Such classifications were “highly unlikely” given how the companies publicly describe their operations, the report said.

    Tony R. Walker, who studies global waste trade at the Dalhousie University’s School for Resource and Environmental Studies in Halifax in Canada, said he wasn’t surprised that e-waste continues to evade regulation. While some devices can be legally traded if functional, most such exports to developing nations are broken or obsolete and mislabeled, bound for landfills that pollute the environment and have little market value, he said.

    He pointed to Malaysia — a Basel Convention signatory identified in the report as the primary destination for U.S. e-waste — saying the country would be overwhelmed by that volume, in addition to waste from other wealthy nations.

    “It simply means the country is being overwhelmed with what is essentially pollution transfer from other nations,” he said.

    The report estimates that U.S. e-waste shipments may have made up about 6% of all U.S. exports to the country from 2023 to 2025. After China banned imports of foreign waste in 2017, many Chinese businesses shifted their operations to Southeast Asia, using family and business ties to secure permits.

    “Malaysia suddenly became this mecca of junk,” said Jim Puckett of the Basel Action Network.

    Containers were also sent to Indonesia, Thailand, the Philippines and the UAE, despite bans under the Basel Convention and national laws, the report added.

    In countries receiving this U.S. e-waste, “undocumented workers desperate for jobs” toil in makeshift facilities, inhaling toxic fumes as they strip wires, melt plastics and dismantle devices without protection, the report said.

    Authorities in Thailand and Malaysia have stepped up efforts to curb illegal imports of U.S. e-waste.

    In May, Thai authorities seized 238 tons of U.S. e-waste at Bangkok’s port seized 238 tons of U.S. scrap at Bangkok’s port while Malaysian authorities confiscated e-waste worth $118 million in nationwide raids in June.

    Most of the facilities in Malaysia were illegal and lacked environmental safeguards, said SiPeng Wong, of Malaysia’s Center to Combat Corruption & Cronyism.

    Exporting e-waste from rich nations to developing nations strains local facilities, overwhelms efforts to manage domestic waste and is a form of “waste colonialism,” she said.

    ___

    This story has been corrected to show that one of the companies identified in the report is called First America Metal Corp., not First American Metals.

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  • Watchdog report says American e-waste is causing a ‘hidden tsunami’ in Southeast Asia

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    HANOI, Vietnam — HANOI, Vietnam (AP) — Millions of tons of discarded electronics from the United States are being shipped overseas, much of it to developing countries in Southeast Asia unprepared to safely handle hazardous waste, according to a new report by an environmental watchdog.

    The Seattle-based Basel Action Network, or BAN, said a two-year investigation found at least 10 U.S. companies exporting used electronics to Asia and the Middle East, in what it says is a “hidden tsunami” of electronic waste.

    “This new, almost invisible tsunami of e-waste, is taking place … padding already lucrative profit margins of the electronics recycling sector while allowing a major portion of the American public’s and corporate IT equipment to be surreptitiously exported to and processed under harmful conditions in Southeast Asia,” the report said.

    Electronic waste, or e-waste, includes discarded devices like phones and computers containing both valuable materials and toxic metals like lead, cadmium and mercury. As gadgets are replaced faster, global e-waste is growing five times quicker than it’s formally recycled.

    The world produced a record 62 million metric tons in 2022. That’s expected to climb to 82 million by 2030, according to the United Nations’ International Telecommunication Union and its research arm, UNITAR.

    That American e-waste adds to the burden for Asia, which already produces nearly half the world’s total. Much of it is dumped in landfills, leaching toxic chemicals into the environment. Some ends up in informal scrapyards, where workers burn or dismantle devices by hand, often without protection, releasing toxic fumes and scrap.

    About 2,000 containers — roughly 33,000 metric tons (36,376 U.S. tons) — of used electronics leave U.S. ports every month, according to the report. It said the companies behind the shipments, described as “e-waste brokers,” typically don’t recycle the waste themselves but send it to companies in developing countries.

    The companies identified in the report include Attan Recycling, Corporate eWaste Solutions or CEWS, Creative Metals Group, EDM, First American Metals, GEM Iron and Metal Inc., Greenland Resource, IQA Metals, PPM Recycling and Semsotai.

    Six of the companies did not respond to emailed requests for comment.

    Semsotai told The Associated Press that it does not export scrap, only working components for reuse. It accused BAN of bias.

    PPM Recycling told The Associated Press it complies with all regulations and accurately handles shipments through certified partners. Greenland Resource told The Associated Press it took the allegations seriously and was reviewing the matter internally. Both said they couldn’t comment further without seeing the report.

    CEWS said it follows strict environmental standards, but some aspects of where and how recycled materials are handled are industrial secrets.

    The report estimated that between January 2023 and February 2025, the 10 companies exported more than 10,000 containers of potential e-waste valued at over $1 billion, the report said. Industrywide, such trade could top $200 million a month.

    Eight of the 10 identified companies hold R2V3 certifications — an industry standard meant to ensure electronics are recycled safely and responsibly, raising questions about the value of such a certification, the report said.

    Several companies operate out of California, despite the state’s strict e-waste laws requiring full reporting and proper downstream handling of electronic and universal waste.

    Many e-waste containers go to countries that have banned such imports under the Basel Convention, which is an international treaty that bars hazardous waste trade from non-signatories like the U.S., the only industrialized nation yet to ratify it.

    The nonprofit said its review of government and private trade records from ships and customs officials showed shipments were often declared under trade codes that did not match those for electronic waste, such as “commodity materials” like raw metals or other recyclable goods to evade detection. Such classifications were “highly unlikely” given how the companies publicly describe their operations, the report said.

    Tony R. Walker, who studies global waste trade at the Dalhousie University’s School for Resource and Environmental Studies in Halifax in Canada, said he wasn’t surprised that e-waste continues to evade regulation. While some devices can be legally traded if functional, most such exports to developing nations are broken or obsolete and mislabeled, bound for landfills that pollute the environment and have little market value, he said.

    He pointed to Malaysia — a Basel Convention signatory identified in the report as the primary destination for U.S. e-waste — saying the country would be overwhelmed by that volume, in addition to waste from other wealthy nations.

    “It simply means the country is being overwhelmed with what is essentially pollution transfer from other nations,” he said.

    The report estimates that U.S. e-waste shipments may have comprised about 6% of all U.S. exports to the country from 2023 to 2025. After China banned imports of foreign waste in 2017, many Chinese businesses shifted their operations to Southeast Asia, using family and business ties to secure permits.

    “Malaysia suddenly became this mecca of junk,” said Jim Puckett of the Basel Action Network.

    Containers were also sent to Indonesia, Thailand, the Philippines and the UAE, despite bans under the Basel Convention and national laws, the report added.

    In countries receiving this U.S. e-waste, undocumented workers desperate for jobs toil in makeshift facilities, inhaling toxic fumes as they strip wires, melt plastics and dismantle devices without protection, the report said.

    Authorities in Thailand and Malaysia have stepped up efforts to curb illegal imports of U.S. e-waste.

    In May, Thai authorities seized 238 tons of U.S. e-waste at Bangkok’s port seized 238 tons of U.S. scrap at Bangkok’s port while Malaysian authorities confiscated e-waste worth $118 million in nationwide raids in June.

    Most of the facilities in Malaysia were illegal and lacked environmental safeguards, said SiPeng Wong of Malaysia’s Center to Combat Corruption & Cronyism

    Exporting e-waste from rich nations to developing nations strains local facilities, overwhelms efforts to manage domestic waste and is a form of “waste colonialism,” she said.

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  • Build-A-Bear keeps racking up market gains, despite tariffs, teetering mall traffic

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    NEW YORK — NEW YORK (AP) — Tariffs and years of teetering mall traffic have roiled much of the toy industry. But Build-A-Bear investors are continuing to reap sizeable gains.

    Shares of Build-A-Bear Workshop are up more than 60% since the start of 2025, trading at just under $72 apiece as of Tuesday afternoon. That compares to just 13% for the S&P 500 since the start of the year, and marks dramatic growth from five years ago, when the St. Louis-based retailer’s stock sat under $3.

    The toy industry overall has been “reasonably soft” in recent years, notes Neil Saunders, managing director of GlobalData — but certain categories, including craft-oriented products, have done very well following the height of the COVID-19 pandemic. And that’s key to Build-A-Bear’s core business model: welcoming consumers into their brick-and-mortar stores to make their own plush animals.

    That may also set Build-A-Bear apart from the malls its stores are often inside, many of which have struggled to see overall traffic rebound over the years.

    “The mall may not be a destination, but Build-A-Bear often is — because it’s often a planned trip,” Saunders said. “It’s a store within a mall that many consumers make a beeline for.”

    Build-A-Bear is still not isn’t entirely immune to macroeconomic pressures, but the company’s profit has soared to record after record in recent quarters. Last month, the retailer reported what it said were the best results for a second quarter and first half of a fiscal year in the history of the Build-A-Bear, which opened its first store in 1997. Company executives pointed to strong store performance and other expansion efforts.

    In the first half of its 2025 fiscal year, the company’s revenues hit $252.6 million and its pre-tax income climbed to $34.9 million — up 11.5% and 31.5%, respectively, year-over-year.

    The company also raised its financial outlook for the full year, despite anticipated costs of President Donald Trump’s steep tariffs on goods coming into the U.S. from around the world and other headwinds.

    “Tariffs are a real cost that we are facing,” Voin Todorovic, chief financial officer at Build-A-Bear, said in the company’s Aug. 28 earnings call — pointing to current U.S. import tax rates of 30% on China and 20% on Vietnam, where the retailer sources much of its products. Some of that has already trickled down to the cost of Build-A-Bear’s merchandise in North America, but Todorovic noted that such levies would impact the company “even more in the second half of the year.”

    Still, he and other executives pointed to preparations Build-A-Bear had made to lessen the blow, including previous inventory increases. The company also maintained that consumer-facing price impacts would be limited.

    While the retailer offers some ready-made toys and toy clothing, “what Build-A-Bear generally buys is materials,” Saunders noted. This can “hedge against tariffs much more effectively,” he explained, as they reduce labor costs and potentially allow for more flexibility on sourcing.

    Still, Saunders notes that everyone is going to be affected by tariffs and Build-A-Bear isn’t an exception. He adds that consumers will probably “eat that extra cost because they’re paying for the entertainment value.”

    Barring any significant changes, Todorovic said in August’s earnings call that tariffs are anticipated to cost Build-A-Bear under $11 million for the 2025 fiscal year. But despite that and other costs, he noted that the company is still on track to approach or slightly beat last year’s earnings.

    The company’s latest guidance expects its pre-tax income to reach between $62 million to $70 million for the full 2025 fiscal year, compared to just over $67 million reported in 2024.

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  • Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

    Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

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    Developing economies in Asia are forecast to grow at a 5.0% annual pace this year, helped by a strong U.S. economy and surging demand for computer chips that power artificial intelligence, the Asian Development Bank said in a report Wednesday.

    The forecast was revised upward slightly from the ADB’s April estimate of 4.9% growth.

    However, the regional lender warned of the potential threat of more protectionist measures, such as higher tariffs on exports from China, depending on the outcome of the U.S. presidential election.

    The report highlighted several positive trends, including a rebound in exports from Asia of computer chips and other advanced electronics this year due to rapid adoption of artificial intelligence. It also noted that energy and food prices are moderating, though inflation remains painfully high in countries such as Pakistan, Laos and Myanmar.

    The upturn in global demand for semiconductors and related electronics materials and components has helped drive stronger growth in Taiwan, Hong Kong, Singapore and South Korea, and to a lesser extent, the Philippines and Thailand, and that trend is expected to continue.

    The report cited data from World Semiconductor Trade Statistics projecting that spending on memory chips, vital for AI applications, will expand 77% this year.

    Other types of exports, especially autos from China and South Korea, also are growing quickly, it said.

    The U.S. presidential election is a major source of uncertainty.

    “The election could result in higher blanket tariffs by the U.S. on all global imports, and a broad-based and steep increase in tariffs on all U.S. imports from the PRC (China),” the report said. “This would significantly escalate U.S.-PRC trade tensions, with potential negative spillovers to developing Asia through real and financial channels.”

    Former President Donald Trump has pledged to stop U.S. businesses from shipping jobs overseas and to take other countries’ jobs and factories away by relying heavily on sweeping tariffs. Vice President Kamala Harris has criticized Trump’s plan to impose large tariffs on most imported goods, which she says would severely raise the cost of goods.

    Asia’s developing economies are also vulnerable to other U.S. moves that might affect their currencies or the cost of borrowing on foreign loans, the report said.

    China’s ailing property market remains a key risk and the report kept its forecasts for growth for the world’s second-largest economy at 4.8% in 2024 and 4.5% next year. The ADB’s chief economist, Albert Park, welcomed a flurry of fresh measures announced Tuesday by Beijing to cut borrowing costs and encourage more home purchases.

    “It’s good to see. Certainly there’s room for monetary policy expansion,” he told reporters in a briefing before the report’s release. “Whether that will work remains to be seen.”

    Among other positive developments, the report noted that energy inflation has returned to levels seen before the COVID-19 pandemic began in 2020. That alleviates pressures on some economies that depend heavily on imports of oil and other fuels, such as Sri Lanka, China and Japan.

    Food inflation is still slightly higher, but falling. Rice prices fell by 12% to $589 per metric ton in late August after hitting a 16-year peak of $669 per metric ton in late January, the report said.

    They are expected to fall further, as rice harvests are projected to hit record levels in the 2024-2025 growing year, and prices for wheat and maize also have declined. Crops are likely to benefit from the La Nina climate phenomenon, which could bring beneficial higher rainfall to some regions though it also could cause destructive flooding in others.

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  • Perdue recalls 167,000 pounds of chicken nuggets after consumers find metal wire in some packages

    Perdue recalls 167,000 pounds of chicken nuggets after consumers find metal wire in some packages

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    NEW YORK — Check your freezer. Perdue Foods is recalling more than 167,000 pounds of frozen chicken nuggets and tenders after some customers reported finding metal wire embedded in the products.

    According to Perdue and the U.S. Agriculture Department’s Food Safety and Inspection Service, the recall covers select lots of three products: Perdue Breaded Chicken Tenders, Butcher Box Organic Chicken Breast Nuggets and Perdue Simply Smart Organics Breaded Chicken Breast Nuggets.

    FSIS and Perdue determined that some 167,171 pounds (75,827 kilograms) of these products may be contaminated with a foreign material after receiving an unspecified number of customer complaints. In a Friday announcement, Maryland-based Perdue said that the material was “identified in a limited number of consumer packages.”

    The company later “determined the material to be a very thin strand of metal wire that was inadvertently introduced into the manufacturing process,” Jeff Shaw, Perdue’s senior vice president of food safety and quality, said in a prepared statement. Shaw added that Perdue decided to recall all impacted packages “out of an abundance of caution.”

    There are no confirmed injuries or adverse reactions tied to eating these products to date, according to FSIS and Perdue. Still, FSIS is concerned that the products may be in consumers’ freezers.

    The now-recalled tenders and nuggets can be identified by product codes listed on both Perdue and FSIS’s online notices. All three impacted products have a best if used by date of March 23, 2025, and establishment number “P-33944” on the back of the package. They were sold at retailers nationwide.

    Consumers who have the recalled chicken are urged to throw it away or return the product to its place of purchase. Perdue is offering full refunds to impacted consumers who can call the company at 866-866-3703.

    Foreign object contamination is one of the the top reasons for food recalls in the U.S. today. Just last November, Tyson Foods recalled nearly 30,000 pounds (13,600 kilograms) of chicken nuggets after consumers also found metal pieces in the dinosaur-shaped products. Beyond metal, plastic fragments, rocks, bits of insects and more “extraneous” materials have prompted recalls by making their way into packaged goods.

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  • US shoppers sharply boosted spending at retailers in July despite higher prices

    US shoppers sharply boosted spending at retailers in July despite higher prices

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    WASHINGTON — Americans stepped up their spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates.

    The Commerce Department reported Thursday that retail sales jumped 1% from June to July, the biggest such increase since January 2023, after having declined slightly the previous month. Auto dealers, electronics and appliance stores and grocery stores all reported strong sales gains.

    The July retail sales data provided reassurance that the U.S. economy, while slowing under the pressure of high interest rates, remains resilient. It showed that America’s consumers, the primary driver of economic growth, are still willing to spend.

    The prospect of a still-growing economy is likely to be promoted by Vice President Kamala Harris’ presidential campaign, which is preparing to roll out policies Friday to ban “price gouging” on groceries. On Wednesday, her opponent, former President Donald Trump slammed the economic record of the Biden-Harris administration Wednesday, though he wildly inflated cost increases on food and monthly mortgage payments.

    Other economic data released Thursday was also mostly positive, including a report on first-time applications for unemployment benefits. The figures show that businesses are mainly holding onto their workers and not increasing layoffs.

    With Americans spending more, economists at Morgan Stanley have boosted their forecast for growth in the July-September quarter to a 2.3% annual rate, from an earlier estimate of 2.1%. The economy expanded at a healthy 2.8% rate in the April-June quarter.

    All told, the latest data is consistent with an economy that is headed toward a “soft landing,” in which the Federal Reserve raises interest rates enough to cool inflation but not so much as to cause a recession.

    “The ongoing resilience of consumer spending should ease recession fears and reduce the odds markets have placed on a larger (half-point) cut” at the Fed’s meeting in mid-September, said Michael Pearce, an economist at Oxford Economics. Instead, economists increasingly expect the Fed to begin cutting interest rates next month with a modest quarter-point reduction in its key rate, which affects many consumer and business loans.

    Adjusted for inflation, sales rose about 0.8% last month. And excluding gas station sales, which don’t reflect Americans’ appetite to spend, retail purchases also rose 1%.

    Consumers have been pummeled since the pandemic by high prices and elevated interest rates. Yet at the same time, average wages have also been rising, providing many households with the means to keep spending.

    Inflation-adjusted wages have increased slightly from a year ago. Upper-income households have also seen their wealth increase, with stock prices and home values having jumped in the past three years. Increases in wealth can encourage more spending.

    Auto sales jumped 3.6% last month, the largest increase since January 2023. It marked a rebound from the previous month, when a cyberattack involving many dealerships slowed sales.

    Sales at electronics and appliances stores surged 1.6%. And they rose 0.9% at hardware stores and garden centers. Restaurant sales were up 0.3%, a sign that Americans are still willing to spend on discretionary items, such as eating out.

    Financial markets had plunged earlier this month on fears surrounding the economy after the government reported that hiring was much weaker than expected in July and the unemployment rate rose for a fourth straight month.

    Yet since then, economic reports have shown that layoffs are still low and that activity and hiring in services industries remains solid. Americans are also still splurging on services, such as travel, entertainment, and health care, which are not included in Thursday’s retail sales report.

    Still, some economists worry that much of Americans’ spending now is being fueled by the increased use of credit cards. And the proportion of Americans who are falling behind on their credit card payments, while still relatively low, has been rising.

    But cooling inflation may give households a needed boost. Consumer prices rose just 2.9% in July from a year earlier, the government said Wednesday. That was the smallest year-over-year inflation figure since March 2021. And core inflation, which excludes volatile food and energy costs, slipped for the fourth straight month.

    While Americans are still willing to spend, they are increasingly searching out bargains. On Thursday, Walmart, the nation’s largest retailer, reported strong sales in the three months that ended July 31.

    More Americans appear to be shopping at lower-prices outlets like Walmart. The company also boosted its sales outlook for this year and said that it hasn’t seen any signs of weakness from the consumer.

    Other companies are also starting to offer lower prices to entice consumers, a trend that is helping slow inflation. McDonald’s said its global same-store sales fell for the first time in nearly four years in the second quarter. The company introduced a $5 meal deal at U.S. restaurants in June; most franchisees plan to extend that deal through August.

    Arie Kotler, CEO of Arko Corp., a convenience chain based in Richmond, Virginia, said he’s noticed that shoppers have cut back their spending on discretionary items like salty snacks and candy bars since May. He said he thinks people are struggling with high interest rates on credit cards, with many of them maxed out.

    ___

    AP Business Writers Anne D’Innocenzio in New York and Dee-Ann Durbin in Detroit contributed to this report.

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  • Shipping firm Maersk says it's preparing for resumption of Red Sea voyages

    Shipping firm Maersk says it's preparing for resumption of Red Sea voyages

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    FRANKFURT, Germany — Shipping firm Maersk says that it’s preparing to allow vessels to resume sailing through the Red Sea, thanks to the start of a U.S.-led multinational naval operation to protect shipping from attacks by Houthi rebels in Yemen.

    Houthi attacks have led to a major disruption of shipping through the Suez Canal and the Red Sea, one of the most important arteries for trade in oil, natural gas, grain and consumer goods between Europe and Asia.

    Maersk said in a statement Sunday that “we have received confirmation that the previously announced multi-national security initiative Operation Prosperity Guardian (OPG) has now been set up and deployed to allow maritime commerce to pass through the Red Sea-Gulf of Aden and once again return to using the Suez Canal as a gateway between Asia and Europe. ”

    The company said it was working on plans for the first vessels to make the journey “and for this to happen as soon as operationally possible.”

    The Houthis are Iranian-backed rebels who seized Yemen’s capital, Sanaa, in 2014, launching a grinding war against a Saudi-led coalition seeking to restore the government. The Houthis have sporadically targeted ships in the region, but the attacks have increased since the start of the Israel-Hamas war.

    The rebels have threatened to attack any vessel they believe is either going to or coming from Israel. That has escalated to apparently any vessel, with container ships and oil tankers flagged to countries like Norway and Liberia being attacked or drawing missile fire.

    Major shipping companies include Maersk have been avoiding the Red Sea and sending their ships around Africa and the Cape of Good Hope. That added what analysts say could be a week to two weeks of voyages. The disruption also hiked fuel and insurance costs.

    On Saturday, a U.S. warship shot down four incoming drones originating from Houthi-controlled areas, and a Norwegian-flagged chemicals and oil tanker reported a near miss of an attack drone, while an India-flagged tanker was hit with no injuries reported., the U.S. Central Command said Sunday on X, formerly Twitter. The incidents represented the 14th and 15th attacks on commercial shipping by the Houthis since Oct. 17.

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  • FDA says fake Ozempic shots are being sold through some legitimate sources

    FDA says fake Ozempic shots are being sold through some legitimate sources

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    The U.S. Food and Drug Administration said it has seized “thousands of units” of counterfeit Ozempic, the diabetes drug widely used for weight loss, that had been distributed through legitimate drug supply sources.

    The FDA and the drug’s maker, Novo Nordisk, are testing the shots. They do not yet have information about the drugs’ identity, quality or safety, according to a statement. Five illnesses have been linked to the fake shots, but none have been serious, the FDA said Thursday.

    Some of the fake 1 milligram semaglutide shots may still be for sale, FDA said. In addition to the drug itself, the needles, pen labels, carton and accompanying health care information are also counterfeit, the agency said.

    It said the counterfeits were labeled with the lot number NAR0074 and serial number 430834149057.

    FDA advised retail pharmacies to buy authentic Ozempic only through authorized distributors and for patients to get it only through state-licensed pharmacies.

    Consumers can report suspect Ozempic packages by calling 800-332-1088 or by contacting a state complaint coordinator.

    ___

    The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

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  • Retailers offer big deals for Black Friday but will shoppers spend?

    Retailers offer big deals for Black Friday but will shoppers spend?

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    NEW YORK — Expect big discounts and other enticements to lure shoppers to stores for Black Friday. But retailers worry those may not be enough.

    Consumers are coming under pressure as their savings dwindle and their credit card debt grows. And although they have gotten some relief from easing inflation, many goods and services like meat and rent are still far higher than they were just three years ago.

    Barbara Lindquist, 85, from Hawthorne Woods, Illinois, said she and her husband plan to spend about $1,000 for holiday gifts for her three adult children, 13 grandchildren and three great-grandchildren. That’s about the same as last year.

    But Lindquist, who continues to work as a pre-school teacher at a local church, said she’ll be more focused on deals given still high prices on meat and other staples. And she plans to buy more gift cards, which she believes will help her stick to her budget.

    “I go for value,” said Lindquist, who just picked up discounted sheets and towels at Kohl’s for friends who will be visiting from Panama during the holidays.

    Many retailers had already ordered fewer goods for this holiday season and have pushed holiday sales earlier in October than last year to help shoppers spread out their spending. An early shopping push appears to be a trend that only got more pronounced during the pandemic when clogs in the supply network in 2021 made people buy early for fear of not getting what they wanted.

    But retailers said that many shoppers will be focusing more on deals and will likely wait until the last minute. Best Buy said it’s pushing more items at opening price points, while Kohl’s has simplified its deals, promoting items under a certain price point like $25 at its stores.

    Target said shoppers are waiting longer to buy items. For example, instead of buying sweatshirts or denim back in August or September, they held out until the weather turned cold.

    “It’s clear that consumers have been remarkably resilient,” Target’s CEO Brian Cornell told analysts last week. “Yet in our research, things like uncertainty, caution and managing a budget are top of mind.”

    The National Retail Federation, the nation’s largest retail trade group, expects shoppers will spend more this year than last year, but their pace will slow given all the economic uncertainty.

    The group has forecast that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago. The pace is consistent with the average annual holiday increase of 3.6% from 2010 to pre-pandemic 2019. Americans ramped up spending during the pandemic, with more money in their pockets from federal relief checks and nowhere to go during lockdowns. For the holiday 2021 season, sales for the two-month period surged 12.7%.

    Online discounts should be better than a year ago, particularly for toys, electronics and clothing, according to Adobe Analytics, which tracks online spending. It predicts toys will be discounted on average by 35%, compared with 22% a year ago, while electronics should see 30% cuts, compared with last year’s 27%. In clothing, shoppers will see an average discount of 25%, compared with 19% last year, Adobe said.

    Analysts consider the five-day Black Friday weekend — which includes the Monday after the holiday known as Cyber Monday — a key barometer of shoppers’ willingness to spend. And Black Friday is expected to be once again the busiest shopping day of the year, according to Sensormatic Solutions, a firm that tracks store traffic. On average, the top 10 busiest shopping days in the U.S are expected to once again account for roughly 40% of all holiday retail traffic, Sensormatic said.

    Marshal Cohen, chief retail adviser at Circana, a market research firm, said he thinks that shoppers will just stick to a list and not buy on impulse. He also believes they will take their time buying throughout the season.

    “There’s no sense of urgency,” Cohen said. “The consumers are saying, ‘I will shop when it’s convenient for me.’”

    ___

    Follow Anne D’Innocenzio: http://twitter.com/ADInnocenzio

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  • Retailers are ready to kick off Black Friday just as shoppers pull back on spending

    Retailers are ready to kick off Black Friday just as shoppers pull back on spending

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    NEW YORK — Retailers are kicking off the unofficial start of the holiday shopping season on Friday with a bevy of discounts and other enticements. But executives are growing concerned with a spending slowdown that could temper sales on the day after Thanksgiving as well as throughout the holidays.

    Shoppers, powered by a solid job market and steady wage growth, had demonstrated a resilience that confounded economists and ran counter to sour sentiments expressed in opinion polls. Such spending, while cautious, came despite higher prices in the grocery aisle and higher borrowing costs.

    But consumers are now coming under more pressure from dwindling savings, increased credit card debt and still stubborn inflation. In fact, shoppers cut their buying in October, ending six straight months of gains. Shoppers have gotten some relief from easing inflation, but many goods and services like meat and rent are still far higher than they were just three years ago.

    The latest quarterly results from a string of retailers from Walmart to Best Buy have reported a weakening consumer. Walmart said it noticed shoppers cutting back in October and offered a muted annual sales outlook. Best Buy, the nation’s largest retailer, said shoppers are trading down to cheaper TVs. And Target said shoppers are waiting longer to buy items. For example, instead of buying sweatshirts or denim back in August or September, they held out until the weather turned cold.

    “It’s clear that consumers have been remarkably resilient,” Target’s CEO Brian Cornell told analysts last week. “Yet in our research, things like uncertainty, caution and managing a budget are top of mind.”

    Even luxury retailers are noting their shoppers are feeling pinched.

    “We’re taking a measured approach. There’s been some softening,” said Marc Metrick, CEO of Saks Fifth Avenue’s standalone online business, Saks. “I don’t think (the holiday season) is going to be some horrible business nor is it going to be some kind of explosive holiday season.”

    The National Retail Federation, the nation’s largest retail trade group, expects shoppers will spend more this year than last year, but their pace will slow given all the economic uncertainty.

    The group has forecast that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago. The pace is consistent with the average annual holiday increase of 3.6% from 2010 to pre-pandemic 2019. Americans ramped up spending during the pandemic, with more money in their pockets from federal relief checks and nowhere to go during lockdowns. For the holiday 2021 season, sales for the two-month period surged 12.7%.

    Many retailers had already ordered fewer goods for this holiday season and have pushed holiday sales earlier in October than last year to help shoppers spread out their spending. An early shopping push appears to be a trend that only got more pronounced during the pandemic when clogs in the supply network in 2021 made people buy early for fear of not getting what they wanted.

    But retailers said that many shoppers will be focusing more on deals and will likely wait until the last minute. Best Buy said it’s pushing more items at opening price points, while Kohl’s has simplified its deals, promoting items under a certain price point like $25 at its stores.

    Barbara Lindquist, 85, from Hawthorne Woods, Illinois, said she and her husband plan to spend about $1,000 for holiday gifts for her three adult children, 13 grandchildren and three great-grandchildren. That’s about the same as last year.

    But Lindquist, who continues to work as a pre-school teacher at a local church, said she’ll be more focused on deals given still high prices on meat and other staples. And she plans to buy more gift cards, which she believes will help her stick to her budget.

    “I go for value,” said Lindquist, who just picked up discounted sheets and towels at Kohl’s for friends who will be visiting from Panama during the holidays.

    Online discounts should be better than a year ago, particularly for toys, electronics and clothing, according to Adobe Analytics, which tracks online spending. It predicts toys will be discounted on average by 35%, compared with 22% a year ago, while electronics should see 30% cuts, compared with last year’s 27%. In clothing, shoppers will see an average discount of 25%, compared with 19% last year, Adobe said.

    Analysts consider the five-day Black Friday weekend — which includes the Monday after the holiday known as Cyber Monday — a key barometer of shoppers’ willingness to spend. And Black Friday is expected to be once again the busiest shopping day of the year, according to Sensormatic Solutions, a firm that tracks store traffic. On average, the top 10 busiest shopping days in the U.S are expected to once again account for roughly 40% of all holiday retail traffic, Sensormatic said.

    Stores have been increasingly pushing Black Friday-type deals all month, helping to perk up business.

    Adobe Analytics reported that from Nov. 1 through Monday, consumers spent $63.2 billion online, up 5% compared with the year-ago period and outpacing its estimate of 4.8% for the two-month holiday period.

    However, Marshal Cohen, chief retail adviser at Circana, a market research firm, said he thinks that shoppers will just stick to a list and not buy on impulse. He also believes they will take their time buying throughout the season.

    “There’s no sense of urgency,” Cohen said. “The consumers are saying, ‘I will shop when it’s convenient for me.’”

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    Follow Anne D’Innocenzio: http://twitter.com/ADInnocenzio

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  • Goodbye to more DVDs? Best Buy plans to phase out sales of physical movies in the coming months

    Goodbye to more DVDs? Best Buy plans to phase out sales of physical movies in the coming months

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    Best Buy is saying goodbye to movie-watching with physical discs

    ByWYATTE GRANTHAM-PHILIPS AP business writer

    October 13, 2023, 12:14 PM

    FILE – Shoppers are silhouetted as they walk toward a Best Buy store after doors opened at 5 a.m., Nov. 26, 2021, in Lone Tree, Colo. Best Buy is saying goodbye to movie-watching with physical discs. The consumer electronics retailer plans to phase out its DVD and Blu-ray sales by early 2024 — with physical movies set to be sold in-stores and online as they are today through the holidays. (AP Photo/David Zalubowski, file)

    The Associated Press

    NEW YORK — Best Buy is saying goodbye to movie-watching with physical discs.

    The consumer electronics retailer plans to phase out its DVD and Blu-ray sales by early 2024 — with physical movies set to be sold in-stores and online as they are today through the holidays, Best Buy confirmed to The Associated Press Friday. Video games will not be impacted.

    “To state the obvious, the way we watch movies and TV shows is much different today than it was decades ago,” the company said in an emailed statement. “Making this change gives us more space and opportunity to bring customers new and innovative tech for them to explore, discover and enjoy.”

    Best Buy isn’t the only company to start moving away from physical media in recent months. Last month, Netflix’s DVD-by-mail service, for example, officially came to a close as the company’s iconic red-and-white envelopes made their final trip.

    Speculation about the fate of Best Buy’s physical movies began swirling around this week after several media outlets reported on the company’s plans.

    Entertainment blog The Digital Bits was the first to share the news Thursday, citing sources familiar with the matter. And according to Variety, which also cited industry sources, Best Buy made the initial decision to end DVD sales nine months ago.

    Minnesota-based Best Buy earned $274 million, or $1.25 per share, during the second quarter of 2023. That topped Wall Street expectations, but was still below the $306 million the company earned in the same period last year.

    Second-quarter sales fell 7.2% to $9.58 billion, slightly better than analyst estimates. Comparable sales — sales from physical stores open at least a year, and digital channels — fell 6.3%, dragged down by declines in computing and appliances. While appliance and electronic sales fell, the entertainment category increased by 9.1%.

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  • Japan’s troubled Toshiba to delist after takeover by Japanese consortium succeeds

    Japan’s troubled Toshiba to delist after takeover by Japanese consortium succeeds

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    TOKYO — A 2 trillion yen ($14 billion) tender offer for troubled electronics and energy giant Toshiba by a Japanese consortium has been completed, clearing the way for it to be delisted, the company said Thursday.

    In the tender offer, announced last month and ended Wednesday, the number of shares purchased exceeded the minimum needed, at 78.65%, it said.

    The switch to Toshiba’s new parent company and largest shareholder, called TBJH Inc. will take place on Sept. 27. The move still needs shareholders’ approval, and a meeting has been set for November, according to Toshiba.

    Toshiba will then delist from the Tokyo Stock Exchange within about a month. That will end its more than seven-decade history as a listed company. The purchase price was at 4,620 yen ($31).

    “Toshiba Group will now take a major step toward a new future with a new shareholder,” said its chief executive, Taro Shimada.

    Even after privatization, the company will “do the right thing” to try boost its value, he added.

    A sprawling accounting scandal, which surfaced in 2015 and involved books being doctored for years added to woes related to Toshiba’s nuclear energy business. It faces the daunting and costly task of decommissioning the nuclear power plant in Fukushima, northern Japan, where a tsunami set off three meltdowns in 2011.

    A leading brand behind rice cookers, TVs, laptops and other products once symbolic of Japan’s technological prowess, Toshiba had billed the takeover led by the consortium of Japanese banks and major companies, known as Japan Industrial Partners, as its last chance for a turnaround. Toshiba’s board accepted the deal in March.

    Toshiba has spun off parts of its operations, including its prized flash-memory business, now known as Kioxia. Toshiba is a major stakeholder in Kioxia.

    Overseas activist investors, who own a significant number of Toshiba’s shares, had initially expressed some dissatisfaction about the bid.

    Analysts say its unclear whether Toshiba can return to profitability, even with the delisting.

    Toshiba’s shares were up 0.2% at 4,604 yen ($31) Thursday in Tokyo.

    The company racked up 25 billion yen ($169 million) of red ink for the April-June quarter on 704 billion yen ($5 billion) in sales, down nearly 5% from the year before.

    The decommissioning effort at the Fukushima Dai-ichi nuclear plant is expected to take decades.

    Toshiba’s U.S. nuclear arm Westinghouse filed for bankruptcy in 2017 after years of deep losses as safety costs soared.

    ___

    Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

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