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Tag: Consumer Products

  • The steep plunge in used car prices — what it means, and what’s ahead | CNN Business

    The steep plunge in used car prices — what it means, and what’s ahead | CNN Business

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    New York
    CNN
     — 

    Tracking used car prices is enough to give anyone whiplash.

    Since the start of the pandemic and the resulting disruptions to new car supply chains first sent prices soaring, used car prices posted their largest annual increase on record – up 45% in the 12 months ending in June 2021, according to the Consumer Price Index – before swinging to a 12-month drop of 8.8% in the most recent reading for December.

    That was the biggest 12-month plunge in prices for used cars since June 2009, when General Motors and Chrysler were both in bankruptcy proceedings and the economy was hemorrhaging a half-million jobs a month.

    “It was a completely wild ride,” said Ivan Drury, director of insights at Edmunds.com Inc., an online resources for inventory and information on cars.

    Data from Edmunds shows the average price of a used car purchase in December at $29,533, down nearly $1,600 from the record high of $31,095 reached in April 2022. Today’s average used car price is about the same as the average new car price as recently as 2010.

    While the prices of late model used cars are down only 5% off their peak according according to Edmunds, the price of older used cars, those five years or older, have fallen 15% or more from their peaks early in 2022.

    Experts say reasons for the decline include higher interest rates that make it more expensive to finance a car purchase, limiting demand. CarMax

    (KMX)
    , the nation’s largest pure used car dealer, has warned that the combination of high prices and high interest rates is creating an affordability problem for many buyers, hurting overall demand.

    But the leading reason for the drop in used car prices is the increased supply of new cars.

    It was the lack of new car inventory that drove up prices. Parts shortages, especially for computer chips, had choked off production of new cars in much of 2022, causing the lowest level of full-year US new car sales since 2011.

    The low supply of new cars caused an even bigger jump in the average price of used cars, as buyers who would otherwise buy new vehicles turned to the used car market.

    “At one point it seemed that everyone who was going to buy new ended up buying used,” said Greg Markus, executive vice president of AutoLenders, parent company of New Jersey’s largest used car dealership chain.

    That included rental car companies, which before the pandemic normally bought about 10% or more new cars per year. With limited inventory of cars to sell, automakers essentially stopped making lower-priced fleet sales, and even rental car companies were forced to turn to the used car market.

    All that has started to change in recent months. Automakers are reporting more supplies of the chips they need, and are producing and selling more cars, including a return of fleet sales. Overall, sales were up 9% in the fourth quarter compared to a year ago, and nearly 6% higher than in the third quarter, according to Cox Automotive. And with more buyers finding the new cars they want, that means lower demand for used cars.

    Experts say part of the decline in used car prices is that the price increases were not sustainable and were partly driven by buyers at used car auctions overpaying for the limited supply of used vehicles.

    “There was nowhere for these prices to go but down,” said Markus.

    There could be more declines in used car prices in the months ahead, as new car inventories continue to build. One thing that could put a floor under the used car prices: late model used cars will likely be in short supply given the reduced new car production over the last three years.

    “The supply issue is still grim,” said Markus. Because of that, “I don’t think we’re getting down to 2019 levels,” he added.

    The run-up in used car prices was a major driver in the nation’s overall inflation rate, adding about a full percentage point to the overall increase in consumer prices from April of 2021 through May of 2022. Now it’s a factor helping to bring down the pace of inflation, shaving more than a third of a point off the overall rate in December.

    This is obviously good news for those wanting or needing to buy a used car, though it can have a negative effect on car buyers by reducing the value of vehicle they hope to trade in. Edmunds shows the average trade-in value in December down nearly $3,000, or 11%, to $22,605, from the record high hit in June of 2022.

    That drop in the value of trade-ins could also be a headwind on car prices by reducing what buyers are able to pay.

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  • World’s top chip maker mulls global expansion with plants in Europe, Japan | CNN Business

    World’s top chip maker mulls global expansion with plants in Europe, Japan | CNN Business

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    New Delhi
    CNN
     — 

    Semiconductor giant Taiwan Semiconductor Manufacturing Company (TSMC) may expand its global manufacturing footprint even further.

    The company is considering opening its first plant in Europe and a second one in Japan, its CEO CC Wei said in an earnings call on Thursday.

    TSMC, which produces an estimated 90% of the world’s super-advanced chips, has already upped its investment in the United States. The company announced last year that it’s building a second semiconductor factory in Arizona and raising its investment there from $12 billion to $40 billion.

    Speaking about TSMC’s new plans on Thursday, Wei said that in Europe “we’re engaging with customers and partners to evaluate the possibility of building a specialty fab, focusing on automotive-specific technologies, based on the demand from customers and level of government support.”

    A fab refers to a semiconductor fabrication plant.

    The company is also considering building a second fab in Japan, “as long as the demand from customers and the level of government support makes sense,” he said.

    These plans come amidst falling demand for semiconductors because of a weakening global economy.

    “In the first half of 2023, we expect our revenue to decline [by] mid- to high single-digit percent over the same period last year in US dollar terms,” Wei said, adding that he expects revenue to increase in the second half of the year.

    “For the full year of 2023, we forecast the semiconductor market, excluding memory, to decline approximately 4%,” he added.

    TSMC is considered a national treasure in Taiwan and supplies tech giants including Apple and Qualcomm. It mass produces the most advanced semiconductors in the world, components that are vital to the smooth running of everything from smartphones to washing machines.

    The company is perceived as being so valuable to the global economy, as well as to China — which claims Taiwan as its own territory despite having never controlled it — that it is sometimes even referred to as forming part of a “silicon shield” against a potential military invasion by Beijing.

    TSMC’s presence gives a strong incentive to the West to defend Taiwan against any attempt by China to take it by force, analysts say.

    The company’s international expansion has caused deep unease in Taiwan.

    Apart from the risk that TSMC will take its most advanced technology with it — stripping Taiwan of one of its unique assets and reducing employment opportunities locally — there are fears that a diminished presence for the company could expose Taipei, Taiwan’s capital, to greater pressure from Beijing.

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  • Why Apple may finally be embracing touchscreen laptops | CNN Business

    Why Apple may finally be embracing touchscreen laptops | CNN Business

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    CNN
     — 

    Over the years, Apple has added touchscreens to almost every computing device imaginable, from phones and tablets to smartwatches, but it has refrained from bringing the feature to its Mac product line – even as a long list of rivals did so with their laptops and desktops.

    In 2010, Apple co-founder Steve Jobs described the concept of a computer with a touchscreen – then an emerging trend among the company’s competitors – as “ergonomically terrible.” Two years later, CEO Tim Cook reiterated the sentiment during an earnings call. And Craig Federighi, Apple’s senior VP of software engineering, said in 2018 that “lifting your arm up to poke a screen is pretty fatiguing to do.”

    But now, Apple may be rethinking its stance. On Wednesday, Bloomberg reported Apple engineers are developing a touchscreen for the MacBook Pro with an expected launch date of 2025, citing unnamed sources familiar with the matter. The company did not immediately respond to a request for comment.

    While it’s unclear if the touchscreen laptop will see the light of day, introducing the product could accomplish two important things for Apple: adapting to shifting consumer expectations and supercharging sales for its Mac product line.

    Microsoft, HP, Samsung and Dell, have long offered computers with touchscreens, and more consumers have come to expect they can tap on a computer screen just as they do on their phones. (If you have a MacBook, you may have already had the experience of a friend or relative touching your screen reflexively thinking it would do something.)

    At the same time, interest in Apple computers is booming, thanks in part to Apple’s inclusion of its new in-house processor that improved battery life and offered better performance. Mac revenue increased 14% in Apple’s 2022 fiscal year to $40.1 billion. Apple’s iPad business, on the other hand, saw sales decline from the prior year.

    Apple has previously kept the touchscreen away from its Mac lineup to prevent it from cannibalizing iPad sales. Instead, Apple added a narrow touch bar to its MacBook keyboard to provide easy access to shortcuts, emoji and other features, but ultimately it did away with the tool after it was panned by users and critics.

    Now, however, Apple could use a Mac touchscreen to incentivize consumers to upgrade their computers and keep Mac sales momentum growing.

    David McQueen, research director at ABI Research, said the lines are increasingly blurred between higher-end iPads and Macs, thanks to new chips, battery life and slim design. He noted that when a 12.9-inch iPad Pro is attached to a Magic Keyboard with use of an Apple Pencil, there is “not much to tell it apart from a laptop experience.”

    “The market has embraced 2-in-1 laptop-tablet hybrids and maybe now Apple sees the rationale for also adding one to its armory,” he added.”

    Apple, for its part, has softened its stance on Mac touchscreens more recently. When asked at a conference last fall if Apple will add a touchscreen to Macs, Federighi responded: “Who’s to say?”

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  • Consumer sentiment jumps to 9-month high as inflation ebbs and stocks rebound

    Consumer sentiment jumps to 9-month high as inflation ebbs and stocks rebound

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    The numbers: A survey of consumer sentiment rose to 64.6 in January and hit a nine-month high, reflecting easing worries about inflation and Americans’ greater confidence in their own finances.

    The index increased from a revised 59.7 in December, the University of Michigan said.

    Consumer sentiment is still weak, though. The index is well off a Coronavirus-era peak of 88.3 in April 2021 and a pre-pandemic high of 101.

    Key details: A gauge that measures what consumers think about their financial situation — and the current health of the economy — climbed to 68.6 last month. One year ago, the index stood at 72.

    Another measure that asks about expectations for the next six months moved up to 62 from 59.9 in the prior month. It’s also just a few notches below year-ago levels.

    Americans viewed inflation as less of a threat. They expected the inflation rate in the next year to average about 4%, down from 4.4% in the prior month.

    In the longer run, consumers said they see inflation falling toward 3% — above the Federal Reserve’s 2% target. Top Fed officials pay close attention to inflation expectations because they could be a harbinger of future price trends.

    The current 12-month rate of inflation is 6.5%, based on the consumer-price index. It’s fallen from a peak of 9.1% last summer.

    Big picture: Cheaper gas, rebounding stock prices and ebbing inflation have given Americans more reason for hope.

    Yet rising interest rates and the threat of recession are leaving Americans on edge. The Fed is rapidly lifting rates to tame high inflation, but its get-tough approach has also increased the odds of a recession.

    Looking ahead: “While that is the highest reading in nine months,” said U.S. economist Andrew Hunter at Capital Economics, the relatively low reading suggests “consumers remain unusually downbeat.”

    Market reaction: The Dow Jones Industrial Average
    DJIA,
    +0.33%

    and S&P 500
    SPX,
    +0.40%

    fell slightly in Friday trades.

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  • Egg prices exploded 60% higher last year. These food prices surged too | CNN Business

    Egg prices exploded 60% higher last year. These food prices surged too | CNN Business

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    Minneapolis
    CNN
     — 

    Eggs, milk, butter, flour … if you were making pancakes last year, it would have cost you. Food prices surged in 2022.

    Grocery prices remain stubbornly high (and nearly double the rate of overall inflation) at 11.8% year over year, according to data released Thursday by the Bureau of Labor Statistics.

    Blame Russia, the weather, disease and a host of other factors.

    “Even though we’re seeing inflationary pressures ease, we still have a war in Ukraine,” said Tom Bailey, senior consumer foods analyst with Rabobank. “Fertilizer costs have improved, but they still remain very high. Energy costs have improved, but they still remain relatively high. Labor costs still remain a problem — and the list goes on.”

    Weather and disease are heavily affecting certain products’ prices, too – and none have been more rotten than egg prices: They’re up 59.9% year over year, a rate not seen since 1973, when high feed costs, shortages and price freezes caused certain agricultural products to soar in price. Since early last year, a deadly avian flu has devastated poultry flocks, especially turkeys and egg-laying hens. That was compounded by increasing demand and higher input costs, such as feed.

    As a result, people like Jim Quinn are shelling out upwards of $6 and $7 for a dozen eggs.

    Quinn has run daytime eatery The Hungry Monkey Café in Newport, Rhode Island, with his wife, Kate, since 2009. As a breakfast and lunch joint, it leans heavily on eggs for the majority of dishes on its menu — and especially for the 15-egg King Kong omelet novelty food challenge at the restaurant.

    Even though eggs and seemingly every other ingredient have risen in price during the past year, Quinn and The Hungry Monkey have chosen to eat the cost.

    “I’m trying to hold the line on the prices without having to increase them,” Quinn said. “It makes it extremely challenging for a mom-and-pop [business].”

    He added: “We’re just trying to stay alive and hope that things will come down.”

    But there’s good news on the horizon. The cost of food is still hard to swallow, but the latest Consumer Price Index shows that those price increases — by and large — are at least growing at slower rates.

    In December, “food at home” prices increased 0.2% from the month before. That’s the smallest monthly increase since March 2021.

    The expectations are for food price increases to continue to moderate, Bailey said.

    “I suspect over the next 12 months we will see improvements in supply, improvements in the conditions that have been challenging across most of our food categories,” he said, “and we’ll finally start to see prices, at least upstream, really starting to come off. And then maybe it’s 2024 where we could eventually see some deflation for food.”

    Here’s a look at how prices are trending across certain food categories in December, according to BLS data:

    Eggs: +59.9% annually; +11.1% from November

    Butter and margarine: +35.3% annually; +1.7% from November

    Lettuce: +24.9% annually; +4% from November

    Flour and prepared flour mixes: +23.4% annually; -1% from November

    Canned fruits and vegetables: +18.4% annually; +0.3% from November

    Bread: +15.9% annually; +0.2% from November

    Cereals and cereal products: +15.6% annually; -0.3% from November

    Coffee: +14.3% annually; +0% from November

    Milk: +12.5% annually; -1% from November

    Chicken: +10.9% annually; -0.6% from November

    Baby food: +10.7% annually; -0.2% from November

    Fresh fruits: +3.4% annually; -1.9% from November

    Uncooked ground beef: +0.7% annually; -0.1% from November

    Bacon and related products: -3.7% annually; -2.9% from November

    Uncooked beef steaks: -5.4% annually; +0.9% from November

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  • Mattel launches new Barbie doll for preschoolers | CNN Business

    Mattel launches new Barbie doll for preschoolers | CNN Business

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    New York
    CNN
     — 

    Mattel is giving preschoolers a new age-appropriate Barbie doll that it says is better suited for their needs.

    The doll, called “My First Barbie,” is specifically created for kids three years old and older, said Lisa McKnight, executive vice president and global head of Barbie and dolls for Mattel. The age range for the original Barbie fashion dolls is for kids 3 and up.

    “We talk to parents and kids almost every day. Interestingly, what came up more and more from parents who grew up with Barbie themselves was that they wanted a Barbie doll that was easier to play with for little hands with less dexterity,” said McKnight.

    Although the toymaker has introduced My First Barbie-branded dolls over the years, this is the first version of the iconic doll for preschool children.

    McKnight said the brand took this insight and began the process of developing My First Barbie a year ago.

    The $20 doll, which is available for purchase beginning this month at Walmart,

    (WMT)
    Target,

    (TGT)
    Amazon

    (AMZN)
    and other retailers, is noticeably different from the original Barbie.

    My First Barbie is larger, 13.5 inches tall versus 11.5 inches for the standard Barbie fashion doll. It also has a softer body and more articulated arms and legs.

    McKnight said the doll’s hands feature a distinctive design change. “The hand is closed, so the thumb is not detached. We did this to make it easier for little hands to dress and undress the doll,” she said.

    Mattel is launching the doll in four skin tones and with accessories like shoes and purses, a summer beach look complete with a sun hat and swimsuit, other fashion clothing with Velcro fasteners so little kids can easier change her clothes and bedroom and tea time play sets.

    “This is a first for us, to create a bespoke Barbie for preschool children,” said McKnight.

    First introduced as Barbie Millicent Roberts in 1959, Mattel sold 300,000 Barbie dolls in the first year of her launch. To date, it has sold more than a billion dolls worldwide. One gauge of the Barbie’s enduring popularity: the company says more than 100 Barbie dolls are sold every minute.

    Barbie continues to be the dominant doll brand and the No. 1 fashion doll brand globally. It was among the top 5 best-selling toy properties in the first nine months of 2022, according to market research firm NPD. It named Barbie as the top-selling global toy property of the year in 2021.

    Mattel’s attempt with My First Barbie makes sense, said Jim Silver, a toy industry expert and CEO of Toys, Tots, Pets & More, an industry review website.

    “Mattel is successfully filling a void for this age group. They’ve found a way to bring the Barbie fashion doll to an even younger consumer,” said Silver.

    “There’s very little out there in the toy market for preschoolers in dolls that isn’t a baby doll. But kids younger and younger are asking for a Barbie, which is for ages 3 and up,” he said. “So this is a great opportunity for Mattel to introduce Barbie even earlier to kids.”

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  • From color-changing cars to self-driving strollers, here’s some of the coolest tech from CES 2023 | CNN Business

    From color-changing cars to self-driving strollers, here’s some of the coolest tech from CES 2023 | CNN Business

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    CNN
     — 

    A long list of companies once again showed off an assortment of cutting edge technology and oddball gadgets at the Consumer Electronics Show in Las Vegas last week.

    There were new twists on foldable devices, cars that changed colors and smart ovens that live streamed dinners. There was a self-driving stroller, a pillow that pulsates to reduce anxiety and a locker from LG that claims to deodorize smelly sneakers in less than 40 minutes. At the event, some people gathered in groups, sitting in silence, to test out the latest virtual reality products.

    While some of these devices may never find their way into households, the products on display offer a glimpse at some of the biggest tech trends companies are anticipating this year and in the years ahead.

    Here’s a look at some of the buzziest products announced last week:

    BMW unveiled a wild color-changing concept car with 260 e-panels that can change up to 32 colors. During a demo, different parts of the car, including the wheel covers, flashed in varying hues and swirls of colors. The technology, which relies on panels that receive electrical impulses, isn’t ready for production. (Breaks between panels and what looked like wiring could be seen on the outside of the car.) But just imagine being able to drive a sporty red car on the weekends and then a conservative gray model when you go to work.

    If you think snapping photos of your meal for Instagram is overdone, now you can livestream your dinner as it cooks in real time and post it to your social feeds. Samsung’s new AI Wall oven features an internal camera that can capture footage of your baking food or allow you to keep tabs on it without ever leaving the couch. The oven, which uses an algorithm to recognize dishes and suggest cooking times and temperatures, also pushes notifications to your phone to prevent you from burning meals. The oven will launch in North America later this year; a price has not yet been announced.

    The self-driving stroller allows for hands-free strolling but only when a child is not inside

    Canadian-based baby gear startup Gluxkind was showed off its Ella AI Powered Smart Stroller. It offers much of the same tech seen in autonomous cars and delivery robots, including a dual-motor system for uphill walks and automatic downhill brake assist. It’s meant to serve as an “extra pairs of eyes and an extra set of hands,” according to the company’s website – not a replacement for a caregiver. The Ella stroller is able to drive itself for hands-free strolling – but only when a child is not inside.

    The Shiftall Mutalk mouthpiece puts a Bluetooth microphone over the mouth to quiet a user's voice

    No gadget at CES this year was as striking as the Mutalk mouthpiece from startup Shiftall. The device, which looks like a muzzle, features a soundproof Bluetooth microphone that makes it difficult for others in the room to hear your voice when you’re on calls. The company thinks the $200 gadget will come in handy for everything from voice chats and playing online games to shouting in VR when you don’t want to disturb anyone else nearby. Instead of hearing you, they will simply see your new mouthpiece; you can decide which is worse.

    If you ever wanted to hit 15 miles per hour on roller skates, this electric pair from French startup AtmosGear promises to help get you there. With a battery pack that holds an hour charge and the ability to travel over 12 miles, the skates can clip onto any existing roller skates, turning them into motor-propelled footwear. The skates are currently available for pre-order for $525.

    JBL Tour 2 Pro earbuds and case with smartphone-like abilities

    You’ve probably heard of smartphones that come with headphones, but what about headphones that come with a screen? The JBL Tour Pro 2 earbuds adds a touchscreen to the case to bring smartwatch-like capabilities by allowing users to control its settings, answer calls, set alarms, manage music and check battery life. No launch date has been announced, but the new buds will cost $250 when they eventually go on sale.

    Samsung's Flex Hybrid Display concept folds and slides

    Some companies offered a new twist on the foldable phone concept. For example, Samsung Display’s Flex Hybrid prototype features a foldable and slidable display (the right side slides to offer more screen space). Meanwhile, the Asus $3500 Zenbook 17 Fold OLED – the world’s first foldable 17-inch laptop – picked up significant buzz on the show floor, acting almost like a large tablet that can be folded in half when on the go.

    Dubbed “the world’s first awareable,” the $500 Nowatch is a watch… with no clock. The Amsterdam-based startup of the same name launched the device to help users monitor stress, body temperature, heart rate, movement and sleep. But unlike other smartwatches, there’s no watchface – instead, a gemstone sits where the touchscreen display typically goes. “We’ve replaced the traditional watch face with ancient stones, celebrating the belief that time is NOW,” the company said on its website.

    Representative Director, Chairman and CEO of Sony Honda Mobility Yasuhide Mizuno in front of a Afeela concept vehicle during a press event at CES 2023 at the Mandalay Bay Convention Center on January 04, 2023 in Las Vegas, Nevada.

    Honda and Sony have joined forces to create tech-filled electric cars that, they say, will be both fun to drive and filled with the latest entertainment innovation. According to the CEO of Sony Honda Mobility, its cars will recognize your moods and be highly communicative and sensitive to your needs. The car will have screens on the outside so it can “express itself” and share information and will be able to “detect and understand people and society by utilizing sensing and [artificial intelligence] technologies,” according to the company. That’s why the company named its first joint car brand Afeela, in that it just has to “feel” right. But it’s unclear if we’re afeeling that name.

    Withings U-Scan attaches to the toilet to collect data from urine

    While it typically requires a blood panel and a visit to the doctor’s office to learn more about vitamin deficiencies, Withins says its new $500 U-Scan device can tell you similar information right from the comfort of your own toilet. The device attaches to existing toilets and collects data from your urine stream to detect vitamin deficiencies, check hydration and monitor metabolism, according to the company. An additional device called the U-Scan Cycle Sync tracks periods and ovulation cycles.

    Schlage’s new smart lock is one of the first to work with Apple’s Home Key functionality, which allows users to upload their keys to their Apple Wallet and unlock their deadbolted front door directly from their phone or Apple Watch. The lock also works with Amazon Alexa and Google Assistant for voice controlled, hands-free locking. Available in two finishes, the deadbolt can manage access codes, view lock history and handle multiple locks at once. The lock, which will cost $300, will be available for purchase late this spring, according to a company press release.

    – CNN’s Peter Valdes-Depena contributed to this report

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  • 18 stock picks in a ‘Goldilocks’ scenario for U.S. consumers

    18 stock picks in a ‘Goldilocks’ scenario for U.S. consumers

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    It may not have been a surprise to see the consumer discretionary sector of the S&P 500 get hammered last year amid talk of a looming recession while the Federal Reserve jacked up interest rates to push back against inflation.

    But the stock market always looks ahead. Following a decline of 19.4% for the S&P 500
    SPX,
    +0.42%

    in 2022 and a 37.6% drop for the benchmark index’s consumer discretionary sector, this may be the time to begin looking for bargains.

    And now, analysts at Jefferies have lifted the sector to a “bullish” rating.

    In a note to clients on Jan. 10, Jefferies’ global equity strategist, Sean Darby, wrote: “A Goldilocks scenario might be unfolding for the U.S. consumer — falling inflation but steady employment conditions.”

    He sees consumer confidence improving, in part because “households are still sitting on [about] $1.4 trillion of Covid savings.”

    Darby pointed to a list of 18 consumer discretionary stocks favored by Jefferies analysts that was published on Jan. 6. Those are listed below, along with three stocks in the sector the analysts rate “underperform.”

    The ratings of the Jefferies analysts for individual stocks is based on their 12-month outlooks for the companies, in keeping with Wall Street tradition.

    So we have added another list further down, showing which companies in the S&P 500 consumer discretionary sector are expected by analysts polled by FactSet to increase sales the most through 2024.

    The Jefferies 18

    Here are the 18 consumer discretionary stocks recommended by Jefferies analysts with “buy” ratings on Jan. 6, sorted by how much upside the firm sees for the shares from closing prices on Jan. 9:

    Company

    Ticker

    Jan. 9 price

    Jefferies price target

    Implied 12-month upside potential

    Three-year estimated sales CAGR through 2022

    Two-year estimated sales CAGR through 2024

    Topgolf Callaway Brands Corp.

    MODG,
    -0.22%
    $20.76

    $56

    170%

    32.8%

    10.0%

    Bloomin’ Brands Inc.

    BLMN,
    +3.87%
    $22.08

    $35

    59%

    2.4%

    3.7%

    Coty Inc. Class A

    COTY,
    +1.23%
    $9.38

    $14

    49%

    -7.1%

    3.7%

    MGM Resorts International

    MGM,
    +1.71%
    $37.64

    $56

    49%

    -0.1%

    6.6%

    Chewy Inc. Class A

    CHWY,
    +1.63%
    $40.13

    $57

    42%

    28.0%

    10.6%

    Planet Fitness Inc. Class A

    PLNT,
    +0.69%
    $82.36

    $115

    40%

    10.4%

    13.9%

    Molson Coors Beverage Co. Class B

    TAP,
    +0.67%
    $50.21

    $69

    37%

    0.5%

    1.4%

    Fox Factory Holding Corp.

    FOXF,
    +3.95%
    $99.90

    $135

    35%

    28.1%

    6.6%

    Hasbro Inc.

    HAS,
    +0.99%
    $63.70

    $85

    33%

    9.1%

    3.6%

    Hostess Brands Inc. Class A

    TWNK,
    +0.33%
    $23.10

    $30

    30%

    14.2%

    5.0%

    Lowe’s Cos. Inc.

    LOW,
    +0.08%
    $199.44

    $250

    25%

    10.6%

    -1.9%

    Walmart Inc.

    WMT,
    -0.27%
    $144.95

    $175

    21%

    4.9%

    3.3%

    Dollar General Corp.

    DG,
    -0.26%
    $241.05

    $285

    18%

    10.9%

    6.7%

    Church & Dwight Co. Inc.

    CHD,
    -1.17%
    $82.25

    $97

    18%

    7.0%

    4.6%

    McDonald’s Corp.

    MCD,
    +0.39%
    $267.25

    $315

    18%

    2.4%

    4.0%

    Estee Lauder Cos. Inc. Class A

    EL,
    +0.39%
    $261.63

    $304

    16%

    2.8%

    5.8%

    Mondelez International Inc. Class A

    MDLZ,
    -0.04%
    $67.24

    $75

    12%

    6.3%

    4.1%

    Tapestry Inc.

    TPR,
    +0.73%
    $41.25

    $45

    9%

    3.3%

    3.2%

    Sources: Jefferies, FactSet

    Click on the tickers for more information about the companies.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    The two right-most columns on the table show estimated compound annual growth rates (CAGR) for the companies over the past three calendar years and expected sales CAGR for two years through calendar 2024, based on the companies’ financial reports and consensus estimates among analysts polled by FactSet.

    (We used calendar-year numbers, some of which are estimated by FactSet for prior years, because some companies have fiscal years or even months that don’t match the calendar.)

    The stock pick with the highest 12-month upside potential, based on Jefferies’ price target, is Topgolf Callaway Brands Corp.
    MODG,
    -0.22%
    .
    This company has the highest estimated three-year sales CAGR on the list, and has the third-highest projected sales CAGR through 2024, after Planet Fitness Inc.
    PLNT,
    +0.69%

    and Chewy Inc.
    CHWY,
    +1.63%
    .

    On Jan. 6, the Jefferies analysts also listed three stocks in the sector they rated “underperform.” Here they are, sorted by how much the analysts expect the stocks to decline over the next 12 months:

    Company

    Ticker

    Jan. 9 price

    Jefferies price target

    Implied 12-month upside potential

    Three-year estimated sales CAGR through 2022

    Two-year estimated sales CAGR through 2024

    Lululemon Athletica Inc.

    LULU,
    +2.98%
    $298.66

    $200

    -33%

    26.3%

    14.6%

    Williams-Sonoma Inc.

    WSM,
    +1.75%
    $122.17

    $98

    -20%

    14.1%

    -0.3%

    Harley-Davidson Inc.

    HOG,
    +0.35%
    $43.25

    $39

    -10%

    -2.8%

    4.4%

    Sources: Jefferies, FactSet

    Screen of consumer discretionary sales growth

    A look head at which companies are expected to increase sales the most over the next two years might serve as a good starting point for your own research.

    Bear in mind that some of the companies in travel-related industries suffered declining sales for three years through 2022 because of the coronavirus pandemic. Some of those are on this new list of 20 stocks in the S&P 500 consumer discretionary sector expected to show the highest two-year sales CAGR through calendar 2024:

    Company

    Ticker

    Two-year estimated sales CAGR through 2024

    Three-year estimated sales CAGR through 2022

    Share “buy” ratings

    Jan. 9 price

    Consensus price target

    Implied 12-month upside potential

    Las Vegas Sands Corp.

    LVS,
    +1.59%
    59.2%

    -32.6%

    79%

    $52.78

    $53.53

    1%

    Norwegian Cruise Line Holdings Ltd.

    NCLH,
    +1.67%
    39.6%

    -9.3%

    44%

    $13.78

    $16.96

    23%

    Carnival Corp.

    CCL,
    +1.64%
    35.2%

    -14.7%

    30%

    $9.47

    $10.11

    7%

    Tesla Inc.

    TSLA,
    -1.83%
    34.3%

    49.7%

    64%

    $119.77

    $232.43

    94%

    Wynn Resorts Ltd.

    WYNN,
    +2.01%
    29.3%

    -17.5%

    53%

    $94.33

    $96.07

    2%

    Royal Caribbean Group

    RCL,
    +2.22%
    28.4%

    -6.8%

    53%

    $57.29

    $66.43

    16%

    Chipotle Mexican Grill Inc.

    CMG,
    -0.17%
    13.4%

    15.9%

    71%

    $1,446.74

    $1,778.81

    23%

    Amazon.com Inc.

    AMZN,
    +2.61%
    12.2%

    22.1%

    92%

    $87.36

    $133.76

    53%

    Booking Holdings Inc.

    BKNG,
    +0.37%
    11.9%

    3.9%

    63%

    $2,208.41

    $2,307.67

    4%

    Aptiv PLC

    APTV,
    +1.66%
    11.9%

    6.4%

    70%

    $97.98

    $117.23

    20%

    Starbucks Corp.

    SBUX,
    +1.28%
    11.2%

    7.2%

    42%

    $104.74

    $103.44

    -1%

    Etsy Inc.

    ETSY,
    +3.56%
    11.1%

    45.3%

    50%

    $120.99

    $124.04

    3%

    Hilton Worldwide Holdings Inc.

    HLT,
    +0.06%
    10.1%

    -2.9%

    38%

    $129.08

    $146.17

    13%

    Expedia Group Inc.

    EXPE,
    +0.39%
    9.0%

    -0.9%

    50%

    $93.77

    $125.65

    34%

    NIKE Inc. Class B

    NKE,
    +0.68%
    8.1%

    5.8%

    62%

    $124.85

    $126.15

    1%

    Marriott International Inc. Class A

    MAR,
    +0.47%
    7.5%

    -1.2%

    30%

    $152.53

    $172.81

    13%

    BorgWarner Inc.

    BWA,
    +1.82%
    7.1%

    15.3%

    53%

    $42.24

    $46.93

    11%

    Tractor Supply Co.

    TSCO,
    +1.06%
    6.8%

    19.0%

    61%

    $217.48

    $232.34

    7%

    Yum! Brands Inc.

    YUM,
    -0.76%
    6.7%

    6.4%

    47%

    $129.76

    $137.79

    6%

    Dollar General Corp.

    DG,
    -0.26%
    6.7%

    10.9%

    67%

    $241.05

    $267.54

    11%

    Source: FactSet

    Among the companies on this list that didn’t suffer sales declines from 2019 levels, Tesla Inc.
    TSLA,
    -1.83%

    is expected to achieve the highest two-year sales CAGR through 2022.

    Dollar General Corp.
    DG,
    -0.26%

    is the only company to appear on this list based on consensus sales growth estimates and the Jefferies recommended list.

    Don’t miss: These 15 Dividend Aristocrat stocks have been the best income builders

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  • Abercrombie & Fitch is cool again | CNN Business

    Abercrombie & Fitch is cool again | CNN Business

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    New York
    CNN Business
     — 

    Abercrombie & Fitch has shed its perfume-filled mall stores, shirtless models and logo sweatshirts to win over Millennials and Gen Z.

    It’s working.

    Abercrombie

    (ANF)
    said Monday that its women’s segment was on track to deliver its highest holiday sales period ever, and its men’s division was growing, too. The company lifted its fourth quarter and full-year sales and profit outlook, sending its stock up 9%.

    “Abercrombie was a key destination for holiday shopping,” Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Monday. “This a further sign that the brand has successfully ditched the baggage of its past.”

    The brand, which has about 225 stores, plans to open around 10 Abercrombie stores a year over the next three years. This would bring Abercrombie closer to the 285 stores it had a decade ago.

    Abercrombie was a staple of teen wardrobes during the 1990s and 2000s. Its sexualized advertising featuring young, shirtless male models turned the brand into a preppy status symbol for high schoolers. And it was proudly exclusionary, refusing to make size XL or XXL for years. (A new documentary on Netflix documents its culture of racism and discrimination.)

    “We go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends,” former CEO Mike Jefferies said in 2006. “Are we exclusionary? Absolutely.”

    But the brand alienated customers and fast-fashion stores like H&M emerged to win them over during and after the 2008 recession. Its sales slumped and by the time Jefferies left as CEO in 2014, the brand was toxic and had settled race and sex discrimination and harassment lawsuits.

    Abercrombie tried to scrub its image of the Jefferies era. Soon after he left, brand said it would stop “sexualized marketing.”

    It overhauled its marketing, stripped the old moose logo from its clothes and pulled back on the Fierce fragrance in its dimly lit stores. It also expanded its sizes.

    “We are a positive, inclusive brand, with a nice sensibility, very different from what they encountered in the past,” Fran Horowitz, now Abercrombie’s CEO, said in 2016.

    Today, Abercrombie’s stores are lighter than they once were and its clothes are looser. The brand has become known for its (logoless) basics, loungewear and jackets. Instead of trying to dress high schoolers for class, Abercrombie tries to outfit adults for everything from the gym to happy hour.

    “They have a lot of different options for whatever you’re trying to do,” said Galenn Sekulich, 30, a fashion influencer on Instagram and TikTok who posts her shopping hauls from Abercrombie and other stores.

    She said Abercrombie’s sizes did not fit her when she was younger, but its wider-cut Curve Love jean brand gives her an extra two inches in the hips.

    “They made their sizing more true to size,” she said.

    Abercrombie’s success comes at a moment of uncertainty for clothing stores and the broader retail industry. Shoppers have curtailed their discretionary spending and shifted from buying goods to services.

    Macy’s

    (M)
    said Friday that it expects its holiday sales to be at the lower end of its forecast, while Lululemon

    (LULU)
    warned Monday of lower fourth-quarter profit than it initially anticipated.

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  • Samsung estimates quarterly profit sank to 8-year low on demand slump | CNN Business

    Samsung estimates quarterly profit sank to 8-year low on demand slump | CNN Business

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    Seoul
    Reuters
     — 

    Samsung Electronics flagged on Friday its quarterly profit tumbled to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices.

    Profits at the world’s largest memory chip, smartphone and TV maker are expected to shrink again in the current quarter, analysts said, after Samsung announced its October-December operating profit likely fell 69% to 4.3 trillion won ($3.37 billion) from 13.87 trillion won a year earlier.

    It was Samsung

    (SSNLF)
    ’s smallest quarterly profit since the third quarter of 2014 and fell short of a 5.9 trillion won Refinitiv SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.

    “All of Samsung’s businesses had a hard time, but chips and mobile especially,” said Lee Min-hee, analyst at BNK Investment & Securities.

    Quarterly revenue likely fell 9% from the same period a year earlier to 70 trillion won, Samsung said in a short preliminary earnings release. Asia’s fourth-biggest listed company by market value is due to release detailed earnings later this month.

    Rising global interest rates and cost of living have dampened demand for smartphones and other devices that Samsung makes and also for the semiconductors it supplies to rivals including Apple

    (AAPL)
    .

    “For the memory business, the decline in fourth-quarter demand was greater than expected as customers adjusted inventories in their effort to further tighten finances,” Samsung said in the statement.

    Its mobile business’ profit declined in the fourth quarter as smartphone sales and revenue decreased due to weak demand resulting from prolonged macroeconomic issues, Samsung added.

    “Memory chip prices fell in the mid-20% during the quarter, and high-end phones such as foldable didn’t sell as well,” said BNK Investment’s Lee.

    Three analysts said they expected Samsung’s profits to dive again in the current quarter, with a likely operating loss for the chips business as a glut drives a further drop in memory chip prices.

    Samsung shares rose 0.3% in Friday morning trade, underperforming a 0.6% rise in the wider market. Shares of rival memory chip maker SK Hynix rose 1%.

    “The reason shares are rising despite the poor earnings result is… investors are hoping Samsung will need to reduce production, like Micron or SK Hynix said they would, which would help the memory industry overall,” said Eo Kyu-jin, an analyst at DB Financial Investment.

    Samsung had said in October that it did not expect much change to its 2023 investments. Analysts said that Samsung has a history of not announcing production cuts in memory chips, but could organically adjust investment by delaying bringing in equipment or through other ways.

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  • Macy’s says its holiday sales will be lower, citing inflation pressures | CNN Business

    Macy’s says its holiday sales will be lower, citing inflation pressures | CNN Business

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    New York
    CNN
     — 

    Turns out inflation may have put a damper on the holidays.

    Macy’s chair and CEO Jeff Gennette said lulls during the non-peak holiday weeks “were deeper than anticipated” and that consumers will continue to feel pressured into 2023, in a Q4 update Friday.

    Macy’s said Friday its net sales from the holiday quarter will likely be at the low-end to mid-point of its previously issued range of $8.16 billion to $8.4 billion. The retailer said its adjusted diluted earnings per share are expected to be between $1.47 to $1.67.

    In last year’s fourth quarter results, Macy’s earned $8.67 billion, above analysts’ forecasts, and had an adjusted earnings per share of $2.45.

    Total end-of-quarter inventories are on track to fall slightly below last year and down mid-teens relative to 2019.

    Gennette said its Black Friday and Cyber Monday sales met expectations and the week leading up to and following Christmas beat them.

    “Overall, our occasion apparel and gift-giving business were strengths, and inventory composition and price points aligned with customers’ needs,” Gennette said, noting that its high-end Bloomingdale’s stores and cosmetics line Bluemercury continued to outperform forecasts.

    Macy’s warning may provide an early clue to investors wondering if high inflation has hampered shopping demand during the holidays.

    Americans spent more this season to keep up with high prices. US retail sales increased 7.6% during the period between November 1 to December 24 compared to the same time last year, according to the Mastercard Spending Pulse. US retail sales were lower than expected in November, falling 0.6% during the month, which was the weakest performance in nearly a year.

    Gennette warned that consumer sentiment is unlikely to change with the new year.

    “Based on current macro-economic indicators and our proprietary credit card data, we believe the consumer will continue to be pressured in 2023, particularly in the first half, and have planned inventory mix and depth of initial buys accordingly,” the Macy’s CEO said.

    The company expects to report full results for the fourth quarter and fiscal year 2022 in early March 2023.

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  • 411 is going out of service for millions of Americans | CNN Business

    411 is going out of service for millions of Americans | CNN Business

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    New York
    CNN
     — 

    The operator is going off the hook for millions of customers.

    Starting in January, AT&T customers with digital landlines won’t be able to dial 411 or 0 to reach an operator or get directory assistance. AT&T in 2021 ended operator services for wireless callers, although customers with home phone landlines can still access operators and directory help. Verizon, T-Mobile and other major carriers still offer these services for a fee.

    On a notice on AT&T’s website, the company directs customers to find addresses and phone numbers on Google or online directories.

    “Nearly all of these customers have internet access to look up this information,” said an AT&T spokesperson.

    But a century ago, the operator functioned as Google. Everyone knew it as “Information.”

    “The operator was the internet before the internet. There’s a wonderful circularity there,” said Josh Lauer, an associate professor of media studies at the University of New Hampshire who is writing a book on the cultural history of the telephone.

    Operator services were a selling point to customers during the late 1800s and early 1900s. The operator was the essential link in the dominant Bell System, owned by American Telephone & Telegraph (AT&T), telecommunications network.

    The operator became the early face of the telephone, a human behind an emerging and complex technology. The job came to be occupied mostly by single, middle-class White women, often known as “Hello Girls.” The Bell System, known as Ma Bell, advertised its mostly female ranks of operators as servile and attentive – “The Voice with a Smile” – to attract and maintain customers.

    Well into the 20th century, AT&T offered weather, bus schedules, sports scores, time and date, election results and other information requests.

    “Telephone users interpreted her as an efficient way to locate any information,” wrote Emma Goodmann, an assistant professor of communication at Clarke University, in her 2019 paper on the history of telephone operators.

    On Halloween eve in 1938, during Orson Welles’ radio broadcast of “War of the Worlds,” New Jersey residents believed martians were invading and frantically phoned the operator for information on the invasion and to connect them with loved ones before the world ended.

    Three decades later, a Bell company said a customer called to ask the operator if he was a mammal, “like a whale,” while a woman wanted to know how to get a squirrel out of her house, according to Goodmann.

    The advance of technology like the internet and smartphones, the deregulation of the telecomms industry in the 1980s, and other factors have left human operators virtually extinct. In 2021, there were fewer than 4,000 telephone operators, down from a peak of around 420,000 in the 1970s, according to Bureau of Labor Statistics data.

    But there are still people who call the operator and request directory help.

    “411 usage is not insignificant,” the FCC said in a 2019 report. The FCC estimated then that 71 million calls annually were placed to 411.

    The first telephone exchange took place in New Haven, Connecticut, in 1878, two years after Alexander Graham Bell patented the telephone.

    It was designed to handle business communication, not social calls between local residents. Physicians, police, banks and the post office were some of the first subscribers.

    To connect a call, an operator at a switching office would take a request from a caller and physically plug one line into another.

    Bell and other telephone exchanges spread throughout the Northeast. Initially, telephone companies hired mostly men and boys to take calls. But the operator quickly became a gendered job.

    Male managers decided that women were better suited to answering and connecting calls from rude customers because they were seen as more docile and polite. Companies could also pay them less than men.

    Telephone companies sought female operators who would project a “comfortable and genteel image to their customers,” Kenneth Lipartito, a professor of history at Florida International University, wrote in a 1994 paper “When Women Were Switches.”

    Companies rejected Black and ethnic workers with accents, and policies barred female operators from being married. By 1900, more than 80% of operators were White, single, US-born women.

    A 'Hello Girls'  school at the Clerkenwell telephone exchange in 1932.

    Operator jobs were frenetic and repetitive.

    Workers had to scan thousands of tiny jacks, always keeping an eye open for lights indicating new calls and ones that ended. During peak times, operators handled several hundred calls an hour, Lipartito said.

    Training was also rigorous and procedures were strict. Women were instructed to modulate their voices to sound more polite answering calls and used approved language with callers.

    “Through training in the art of inflection she gains in those gentler qualities of unfailing courtesy,” a 1926 AT&T video, “Training for Service,” says.

    Although many of Bell’s independent telephone rivals began using “girlless” automated switchboards in the first decades of the twentieth century, the Bell System was committed to human operators. Automation could not provide the same level of personal service, Bell believed.

    “She’s one of 250,000 girls who help to give you good service, day and night, seven days a week. She’s your telephone operator,” read one typical Bell Systems magazine ad.

    Operators played a crucial function because telephone books were often inaccurate and customers could not be counted on to remember updated numbers and addresses.

    During the first decades of exchanges, operators also unintentionally became a catch-all for information. It was common for people to call and ask the operator for directions, the time and weather, baseball scores and other questions.

    By early part of the twentieth century, telephone companies began to separate requests for information and requests for telephone numbers.

    In 1968, the Bell System changed the name of its information service to “directory assistance” because too many people were taking the name too literally.

    “When she was called ‘Information,’ people kept calling her for the wrong reasons,” one Bell company ad said at the time. “Now we call her ‘Directory Assistance’ in the hope that you’ll call her only for numbers you can’t find in the phone book.”

    Strikes, competition for labor, and rising wages during and after World War I drove Bell to speed up its automation plans.

    In 1920, fewer than 5% of Bell exchanges had automated switchboards. A decade later, more than 30% were automated, according to a 2019 article by the Federal Reserve Bank of Richmond.

    The growth of automatic switchboards led to the direct-dial telephone in the 1920s. (The “0” for operator appeared with dial phones, said Lauer from the University of New Hampshire. On the new Bell dials, “Operator” was printed in the “0” position. The use of “411” also emerged with the dial era. “0” became universal for operator assistance and “411” was the number for directory assistance. In later years, if you dialed “0 and asked for directory assistance, the operator would transfer you over to “411.”)

    But electronic switchboards and direct dialing were phased in gradually and did not eliminate the need for human operators.

    An old dial telephone. The introduction of the dial in the 1920s eliminated the need for phone operators to connect local calls.

    Automatic switchboards were mainly used for local telephone calls. For decades after the introduction of direct dialing, operators still handled long-distance calls, toll calls, and calls to the police and fire department. This meant that operator jobs continued to rise until around the 1970s.

    Directory assistance was also mostly free for customers until the 1970s, when AT&T began charging customers to curb the “misuse” of the service and shift the high costs of employing operators and handling time-consuming queries for information.

    “Some people just simply don’t want to bother to look the number up themselves,” AT&T’s chairman complained in 1974.

    The breakup of AT&T in the 1980s and the deregulation of the telecommunications industry altered operator and directory services. Phone companies began to cut their ranks of operators, automate services and charge customers fees for calls.

    As companies increased prices, demand for directory assistance plunged. Meanwhile, the internet and smartphones emerged to replace these services for most callers.

    In 1984, there were 220,000 telephone operators. A decade later, there were 165,000, according to the Bureau of Labor Statistics. By 2004, at the dawn of the smartphone age, 56,000 people were employed as telephone operators.

    An operator in 1988. The ranks of operators fell sharply in the 1980s and 1990s.

    David McGarty, the president of US Directory Assistance, which provides services for major carriers, has watched the transformation of the operator firsthand.

    Calls to operators have decreased an average of 3% a year and around 90% overall since he started in 1996, he said.

    “We’re content with riding the Titanic down,” he said.

    While operator services may be nearly obsolete, it’s important to consider emergency circumstances where a caller may need to reach an operator and the customers who still rely on these services, such as low-income callers, the elderly and people with disabilities, said Edward Tenner, a technology historian in the Smithsonian’s Lemelson Center for the Study of Invention and Innovation. (AT&T said it would still offer free directory assistance to elderly customers and people with disabilities.)

    “Often tragedies happen when something is exceptional,” he said.

    He also empathized with people who are being forced to keep up with technological change, whether they like it or not.

    “There are a lot of people who, for various reasons, haven’t adapted,” Tenner said. “Why should they be forced to migrate to the web if they don’t want to?”

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  • This airline has new designer uniforms — including jumpsuits | CNN

    This airline has new designer uniforms — including jumpsuits | CNN

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    Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get news about destinations opening, inspiration for future adventures, plus the latest in aviation, food and drink, where to stay and other travel developments.



    CNN
     — 

    Some people say flying just isn’t glamorous enough. And as airlines battle to cast themselves as the sleekest team in the skies, another brand has heard that complaint.

    British Airways has unveiled a new uniform – its first in nearly two decades. The airline’s current threads, designed by Julien MacDonald, will be replaced by a line created by Ozwald Boateng, the Savile Row designer and tailor.

    Engineers and ground operations staff will get their new uniforms in Spring 2023, while onboard crew and check-in agents will receive theirs in the summer.

    And to keep things relatively green – at least, for an airline – staff will hand in their old uniform for recycling or charity donation when they pick up the new. Around 90% of the material is a fabric mix using recycled polyester.

    The path to new uniforms has been a lengthy one, starting in 2018 and involving over 1,500 staff, who took part in design workshops and garment trials.

    Boateng shadowed staff to get an idea of their movements and requirements before designing the line, while for the past six months, crew have worn the uniform in “secret trials” on cargo flights, while maintenance staff have worn them out of sight at the UK’s Manchester and Cotswold Airports, according to a press release.

    Those trials have actually produced changes, too – engineers requested (and got) easy-access tool pockets, while ground handlers asked for gloves with fabric that would enable them to use their devices while wearing them. Crew had their apron pockets widened after reporting in trials that they needed more space during meal service.

    As for the uniforms themselves, the airline says the Boateng has created “bespoke fabrics and designs.” An “airwave” pattern, inspired by air flowing across an airplane wing, features on jackets, t-shirts, buttons and ties, while a jacquard fabric used for tailored items incorporates the “speedmarque” – BA’s logo-like ‘swish’ painted on planes.

    The collection has a tailored three-piece suit for men, who can choose between regular or slim fit pants. Women can choose between pants, skirt, dress or – a first for an airline – a jumpsuit. There is also a tunic and hijab option. Of course, the uniforms aren’t quite up to Savile Row specifications – they are “high-quality, resilient fabrics that are easy to care for.” The outdoor uniforms have even been put into freezers and into the shower to test their fit for extreme weather.

    Boateng said in a statement: “Designing this uniform was a vast and painstaking undertaking and it went far beyond clothes. It was about creating an energetic shift internally.

    Over 1,500 members of staff helped trial the uniforms.

    “One of my main objectives was to create something that spoke to, and for, the airline’s colleagues. Something that inspired and empowered them, encouraged them to conduct their roles with pride and most importantly to ensure that they felt seen and heard. Although the airline has a strong heritage, it was imperative to support in creating a fresh narrative of change and transcendence, while remaining timeliness.”

    Let’s hope that works for the beleaguered airline. BA has yet to fully recover from the pandemic, during which it laid of swathes of staff. 2022 saw multiple IT meltdowns, baggage delays and canceled flights for the airline, which was at the heart of the UK’s travel chaos in summer 2022.

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  • Apple is raising the price of iPhone battery replacements | CNN Business

    Apple is raising the price of iPhone battery replacements | CNN Business

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    CNN
     — 

    Apple is raising the price of battery replacements for all out-of-warranty iPhone models prior to the current iPhone 14 lineup, the company confirmed on its website.

    Starting March 1, Apple

    (AAPL)
    will charge $89 for battery replacements for iPhone X through iPhone 13 models, a $20 increase from the current price of a new battery. Battery replacements for other models, such as the iPhone SE and iPhone 8, will jump from $49 to $69.

    Apple is also raising the cost of replacing batteries for other products. Batteries for newer iPad models will cost $20 more, while it will cost $30 more for a new MacBook Air battery and $50 more for MacBook Pro models.

    Apple devices typically come with one year of warranty. The changes only apply to customers who are not part of its AppleCare+ repair service program, which provides up to two or three years of coverage and varies in cost depending on product.

    Apple first lowered the price of iPhone battery replacements from $79 to $29 in 2018, after it was discovered that the company deliberately slowed down the performance of older iPhones to prevent sudden battery shutdowns. In response to the controversy, dubbed batterygate, Apple also issued a rare apology and agreed to a $113 million settlement with dozens of states.

    In raising prices now, Apple may be responding to an uptick in the cost of products amid rising inflation and supply chain issues. By taking this step, Apple could also make it less attractive for customers to delay upgrading their devices or drive them to pay for the repair service program.

    The news comes as Apple’s market cap fell below $2 trillion in trading on Tuesday for the first time since early 2021 and one year to the day after the company became the first public tech company valued at $3 trillion.

    Like other tech companies, Apple has grappled with supply chain hiccups and concerns that recession fears could weigh on advertiser and consumer spending, including for pricier products like the iPhone.

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  • Inflation fears fade as geopolitical risks rise | CNN Business

    Inflation fears fade as geopolitical risks rise | CNN Business

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    A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.


    New York
    CNN
     — 

    Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. Most notable? Concerns about the increasingly chaotic geopolitical landscape.

    “Inflation shockwaves” still feature as one of Eurasia’s top political risks for 2023 in a new report.

    But perhaps surprisingly, inflation ranks fourth on the list, behind worries about a rogue Russia under the leadership of Vladimir Putin and Xi Jinping’s consolidation of power in China.

    Eurasia’s third biggest fear — the increased use of artificial intelligence technology to wreak havoc on the global economy — only adds to jitters about disruption from Russia and China. Eurasia called AI “a gift to autocrats.”

    Eurasia, led by political scientist and author Ian Bremmer, pointed out that Russia’s war with Ukraine may become an even bigger problem for the United States and Europe.

    “Nuclear saber-rattling by Moscow will intensify. Putin’s threats will become more explicit,” Eurasia said in its report. It is also concerned that “Kremlin-affiliated hackers will ramp up cyberattacks on Western firms and governments.”

    That could mean attempts to disrupt oil pipelines, American and European satellites and other telecom and tech infrastructure, as well as further efforts to influence and sabotage global elections.

    “Moscow will step up its rogue behavior…with newly empowered influence operations targeting NATO countries,” Eurasia said in the report.

    Eurasia pointed to upcoming Polish elections in 2023 as “the most obvious target” but that other Western nations “will be vulnerable, too.”

    Autocracy in China is a potential economic and market headache as well.

    “Xi’s drive for state control will produce arbitrary decisions and policy volatility. China’s economy is in a fragile state after two years of harsh Covid-19 controls,” Eurasia noted, pointing out that “plummeting homebuyer and market sentiment have ground growth in the critical real estate sector to a halt, depleting local government revenue.”

    Eurasia added that the “backdrop of weakening global growth and deepening domestic challenges demands competent economic management from Beijing.” Instead, “the Chinese leadership is delivering opacity and unpredictability.”

    Chinese officials announced in October that they were delaying the release of key economic data, news that Eurasia said “was an ominous sign of things to come for global markets.”

    All of this uncertainty comes as China continues to face the growing Covid outbreak in the country. Eurasia fears that “if a severe new strain of Covid were to emerge,” it is “more likely that it would spread widely in China and beyond.

    “China would be unlikely to identify the new variant because of reduced testing and sequencing, to recognize more severe disease due to an overwhelmed health system, and to let news of a more severe variant get out given Xi’s track record on transparency,’ Eurasia said. “The world would have little or no time to prepare for a deadlier virus.”

    Meanwhile, Eurasia also is worried that Beijing “will deploy new technologies not only to tighten surveillance and control of its own society, but also to spread propaganda on social media and intimidate Chinese language communities overseas.”

    None of this is to suggest that worries about rising prices have dissipated.

    While inflation is listed as the fourth-biggest risk, Eurasia is still concerned that “rising interest rates and global recession will raise the risk of emerging-market crises.”

    Energy prices in particular will remain a sticking point for the global markets and economy as Eurasia notes that “higher oil prices will also increase frictions between OPEC+ and the United States.”

    And Eurasia also listed concerns about instability in Iran, shrinking water levels and economic inequality as major global challenges.

    Then there’s another new and distinctly 21st century worry: the rise of social media.

    “Gen Z has both the ability and the motivation to organize online to reshape corporate and public policy, making life harder for multinationals everywhere and disrupting politics with the click of a button,” Eurasia said, referring to the phenomenon as the “Tik Tok Boom.”

    Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX, had another day in court on Tuesday.

    Bankman-Fried, more commonly referred to by his initials, SBF, plead “not guilty” to charges ranging from wire fraud and conspiracy to commit money laundering to conspiracy by misusing customer funds.

    SBF appeared in a Manhattan court Tuesday after he was arrested last month in the Bahamas, extradited to the United States and then released by a judge on a $250 million bail package. But as my colleague Kara Scannell reports, the legal drama for SBF is only beginning. The judge set a trial date of October 2.

    Prosecutors allege that SBF was in charge of “one of the biggest financial frauds in American history.” They claim that he moved (or stole) billions of dollars from FTX customers to cover losses at the firm’s companion hedge fund, Alameda Research.

    The cryptocurrency world was already in turmoil before FTX imploded. The prices of bitcoin, ethereum and other digital coins all plummeted in 2022. But FTX and Alameda were each forced to file for bankruptcy in December after investors rushed to pull deposits.

    FTX was once valued at $32 billion, based on funding from private investors. The company was expected to be one of the hottest initial public offerings of 2023 as recently as the middle of last year. Not any more.

    Covid woes hurt Apple

    (AAPL)
    last year, as the world’s largest iPhone factory in China faced production disruptions since October due to the pandemic.

    But the giant campus, owned by top Apple supplier Foxconn, is reportedly now back at 90% production capacity following worker protests and Covid-related restrictions.

    Apple needs to get more of its latest smartphones into people’s pockets. Delays with the various iPhone 14 models have cost the company — and its investors — dearly.

    Wedbush Securities analyst Dan Ives estimated in November that disruptions in China led to about $1 billion a week in lost revenue.

    And analysts at UBS also said in November that wait times for the new iPhone 14 Pro and 14 Pro Max in the US were more than a month long due to supply chain woes. That couldn’t have come at a worse time since it was just before Christmas and other winter holidays.

    Apple’s stock had a tough 2022, like the rest of Big Tech, and it didn’t start off 2023 in a festive fashion either. Shares of Apple hit a new 52-week low Tuesday. Apple’s market value dipped below $2 trillion in the process. Just a year ago, Apple was the first company in the world to reach a $3 trillion market valuation.

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  • World’s largest iPhone factory bounces back from Covid disruption that hurt Apple | CNN Business

    World’s largest iPhone factory bounces back from Covid disruption that hurt Apple | CNN Business

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    Hong Kong
    CNN
     — 

    Production at the world’s biggest iPhone factory, disrupted since October by China’s Covid-19 restrictions and worker protests, is now running at nearly full capacity, according to a Chinese state media report.

    The sprawling campus in central China, owned by Apple

    (AAPL)
    supplier Foxconn, was running at 90% of planned production capacity at the end of December, the Henan Daily newspaper reported Tuesday. It cited an interview with Wang Xue, deputy general manager of the facility, which is also known as iPhone city.

    “At the moment, the order books look good, and the orders will peak from now until a few months after Chinese New Year,” he was quoted as saying. The Lunar New Year will begin on January 22.

    Foxconn hasn’t yet responded to CNN’s request for comment about the report.

    The company said last month it was working on restoring production, which had been badly affected by supply disruptions caused by Covid restrictions. Wedbush Securities analyst Daniel Ives estimated in November that the disruptions in Zhengzhou had been costing Apple roughly $1 billion a week in lost iPhone sales.

    According to a UBS report in November, the wait time for the latest 14 Pro and 14 Pro Max in the United States touched 34 days just before the Christmas holidays because of supply chain constraints in China. The UBS analyst called the wait time “extreme.”

    The Henan Daily separately quoted an executive responsible for Foxconn’s logistics as saying that, in the first two days of January, the volume of inbound and outbound shipments had reached the highest level in a year.

    The report of a nearly full resumption of production comes one month after China abruptly ended three years of pandemic controls, setting off a huge wave of Covid infections.

    According to a report in the Wall Street Journal, a letter from Foxconn founder Terry Gou played a major role in persuading Chinese leaders to accelerate plans to dismantle the country’s Covid-19 policies. Gou was quoted as warning that strict Covid controls would threaten China’s central position in global supply chains.

    Gou’s office told CNN that it “denies the report and its contents.”

    Wang was quoted by the Henan Daily as saying iPhone City currently had about 200,000 workers on site. The employees were each eligible for a maximum of 13,000 yuan ($1,883) per month in bonuses, he said, without specifying their base salaries.

    The troubles for Foxconn started in October when workers left the campus, located in the central Chinese province of Henan, because of concerns about Covid-related working conditions and shortages of food. Short on staff, bonuses were offered to workers to return.

    But violent protests broke out in November when the newly-hired staff said management reneged on their promises. Workers clashed with security officers, before the company eventually offered them cash to quit and leave the site.

    Analysts said the production woes at iPhone City would speed up the pace of Apple’s supply chain diversification away from China.

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  • Damar Hamlin’s toy drive fundraiser tops $3 million in donations in hours after his on-field collapse | CNN

    Damar Hamlin’s toy drive fundraiser tops $3 million in donations in hours after his on-field collapse | CNN

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    CNN
     — 

    An online toy drive fundraiser started by Buffalo Bills safety Damar Hamlin topped $3 million in donations in the hours after the NFL star collapsed on the field during a game Monday night.

    The 24-year-old is in critical condition after suffering a cardiac arrest following a tackle during the first quarter of a game against the Cincinnati Bengals. CPR was administered on the field before he was driven out of the stadium in an ambulance to a Cincinnati hospital.

    As fans awaited news on Hamlin’s condition, donations poured in to a GoFundMe fundraiser he started in 2020 to raise money to purchase toys for children, writing at the time, “As I embark on my journey to the NFL, I will never forget where I come from and I am committed to using my platform to positively impact the community that raised me. I created The Chasing M’s Foundation as a vehicle that will allow me to deliver that impact.”

    The fundraiser topped $74,000 just one hour after Hamlin’s collapse and quickly grew to $2,033,270 just before 1 a.m. ET Tuesday, then soared to more than $3 million just an hour and twenty minutes later with more than 119,000 donations.

    “Following his injury on the field tonight, fans across the country are showing their support for him and his family by donating to his fundraiser,” GoFundMe tweeted Monday night.

    Bills fans – nicknamed the Bills Mafia – are known for having a charitable heart. In 2021, they celebrated their victory over the Baltimore Ravens by donating money to the favorite charity of Ravens quarterback Lamar Jackson, who the team lost in the third quarter due to concussion protocol.

    And in the 2020 season, Bills fans donated money to a children’s hospital after Bills quarterback Josh Allen’s grandmother died, according to ESPN.

    Bills fans charitable spirit seems to mirror Hamlin’s. CNN affiliate WKBW caught up with the NFL player just last month at his toy drive event in Buffalo, where he signed autographs for children.

    “Something I’ve always been into just giving back, something I’ve been doing back home in Pittsburgh for three years, I’ve been doing the toy drive, so just being able to extend it to Buffalo now is just something I love doing,” Hamlin told the station at the December 19 event.

    Support for Hamlin flooded in Monday night from fans and players across the sports community. The NFL Players Association tweeted that the organization and “everyone in our community is praying for Damar Hamlin.”

    In an overnight update, the Bills said Hamlin’s “heartbeat was restored on the field and he was transferred to the UC Medical Center for further testing and treatment. He is currently sedated and listed in critical condition.”

    The NFL and the NFL Players Association agreed to postpone the game, a statement from NFL said.

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  • Myths and facts about treating a hangover | CNN

    Myths and facts about treating a hangover | CNN

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    Editor’s Note: Get inspired by a weekly roundup on living well, made simple. Sign up for CNN’s Life, But Better newsletter for information and tools designed to improve your well-being.



    CNN
     — 

    Are you celebrating the first day of 2023 with a hangover?

    If so, you might be looking for a method to ease your misery. There are certainly a lot of so-called hangover cures, some dating back centuries.

    “The ancient Greeks believed that eating cabbage could cure a hangover, and the Romans thought that a meal of fried canaries would do the trick,” said Dr. John Brick, former chief of research at the Center of Alcohol Studies, Education and Training Division at Rutgers University in New Jersey, who authored “The Doctor’s Hangover Handbook.”

    “Today, some Germans believe that a hearty breakfast of red meat and bananas cures hangovers. You might find some French drinking strong coffee with salt, or some Chinese drinking spinach tea,” he said. “Some of the more unusual hangover cures are used by some people in Puerto Rico, who rub half a lemon under their drinking arm.”

    In truth, the only cure for a hangover is time, according to the National Institute on Alcohol Abuse and Alcoholism.

    “A person must wait for the body to finish clearing the toxic byproducts of alcohol metabolism, to rehydrate, to heal irritated tissue, and to restore immune and brain activity to normal,” according to the institute. That recovery process can take up to 24 hours.

    Are there things you can do to ease your transition? Possibly, experts say, but many common hangover “cures” may make your hangover worse. Here’s how to separate fact from fiction.

    Having another drink, or the “hair of the dog that bit you,” is a well-known cure for a hangover, right? Not really, experts say.

    The reason some people believe it works is because once the calming effects of alcohol pass, the brain on a hangover is overstimulated. (It’s also the reason you wake up in the middle of the night once your body has metabolized alcohol.)

    “You’ve got this hyperexcitability in the brain after the alcohol is gone,” said Dr. Robert Swift, a professor of psychiatry and human behavior at Brown University’s Warren Alpert Medical School in Providence, Rhode Island.

    “If you look at the brain of somebody with a hangover, even though the person might feel tired, their brain is actually overexcited,” he said.

    Consuming more alcohol normalizes the brain again, “because you’re adding a sedative to your excited brain,” Swift said. “You feel better until the alcohol goes away and the cycle repeats in a way.”

    The answer is yes, depending on hangover symptoms, Brick said. If you’re a coffee drinker, skipping your morning cup of joe may lead to caffeine withdrawal on top of your hangover.

    But coffee can irritate the stomach lining, which is already inflamed by alcohol, Brick said. So if you are queasy and nauseous, coffee may only make matters worse.

    “If you have a hangover, have a quarter of a cup of coffee,” Brick suggested. “See if you feel better — it takes about 20 minutes for the caffeine to start to have some noticeable effect.

    “If coffee doesn’t make you feel better, don’t drink anymore. Obviously, that’s not the cure for your hangover.”

    Forget eating a greasy breakfast in the wee hours after a night of drinking — you’re adding insult to injury, Swift said: “Greasy food is harder to digest, so it’s probably good to avoid it.”

    Eating greasy food also doesn’t make much sense. The alcohol we drink, called ethyl alcohol or ethanol, is the byproduct of fermenting carbohydrates and starches, usually some sort of grain, grape or berry. While it may create some tasty beverages, ethanol is also a solvent, Brick said.

    “It cuts through grease in your stomach much the same way it cleans grease off oily car parts,” he said.

    Instead, experts suggest using food to prevent hangovers, by eating before you have that first drink.

    “Eating food loaded with protein and carbohydrates can significantly slow down the absorption of alcohol,” Brick said. “The slower the alcohol gets to your brain, the less rapid the ‘shock’ to your brain.”

    Alcohol dehydrates, so a headache and other hangover symptoms may be partly due to constricted blood vessels and a loss of electrolytes, essential minerals such as sodium, calcium and potassium that your body needs.

    If you’ve vomited, you’ve lost even more electrolytes, and all of this can lead to fatigue, confusion, irregular heart rate, digestive problems and more.

    Replacing lost fluids with water or a type of sports drink with extra electrolytes can help boost recovery from a hangover, Swift said.

    Taking over-the-counter pain meds can be dangerous, especially if you take too many while intoxicated, experts say. Taking an acetaminophen, such as Tylenol, can further damage your overtaxed liver, while aspirin and ibuprofen can irritate your stomach lining.

    “You should never, never take alcohol with acetaminophen or Tylenol,” Swift said. “You can actually cause liver damage from an overdose of Tylenol.”

    But aspirin, ibuprofen and naproxen are “theoretically” OK, he added.

    “Even though they tend to be anti-inflammatory in the body, they can cause inflammation in the stomach,” Swift said. “Don’t take them on an empty stomach; always take anti-inflammatories with food.”

    While most alcohol is handled by the liver, a small amount leaves the body unchanged through sweat, urine and breathing.

    Get up, do some light stretching and walking, and drink plenty of water to encourage urination, Brick said.

    “Before you go to sleep and when you wake up, drink as much water as you comfortably can handle,” he said. You can also take a multivitamin “before you hit the shower in the morning (to) replenish lost vitamins, minerals and other nutrients.”

    If you would rather have something warm and soothing, Brick suggested broth or other homemade soups.

    “These will also help to replace lost salts, including potassium and other substances,” he said, “but will not make you sober up faster or improve impairment due to intoxication or hangover.”

    Store shelves are packed with so-called hangover cures. Unfortunately, there’s no proof they work. In 2020, researchers published what they called the “world’s largest randomised double-blind placebo-controlled” trial of supplements containing vitamins, minerals, plant extracts and antioxidants and found no real improvement in hangover symptoms.

    Even if one solution works, it likely won’t fix all your symptoms, experts say.

    “The effects of alcohol and alcoholic beverages are so complicated, so complex,” Swift said, “that any solution might address one or two of the symptoms but won’t address them all.”

    What does work for a hangover? Time. It will take time for your body to release all the toxins causing your misery, experts say. And the only way to prevent a hangover is to abstain.

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  • What got really expensive this year, and what got cheaper | CNN Business

    What got really expensive this year, and what got cheaper | CNN Business

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    New York
    CNN
     — 

    It’s been a tough year for US consumers, who battled decades-high inflation for the majority of the year and even saw gas prices hit $5 in June.

    The latest inflation data, not adjusted for seasonal swings, shows price hikes have now slowed to 7.1% for the year through November, after hitting a pandemic-era peak of 9.1% in June, according to the Bureau of Labor Statistics.

    From November 1 to December 24, shoppers still had to dig deep for gifts, with retail sales jumping 7.6%, unadjusted for inflation, compared to the same period last year, according to the Mastercard Spending Pulse, which tracks retail sales, excluding automotive sales. Holiday meals were also more expensive, and food prices outpaced inflation throughout the year.

    But while some items saw massive double-digit increases in 2022, others were a deal. Here’s how prices changed this year.

    Consumer demand for big-ticket electronics has fallen recently, leading stores to discount.

    In the year through November, several major electronics got cheaper: Smartphone prices plunged 23.4%, TV prices dropped 17% and computers got 4.4% less expensive.

    The price of major appliances fell 1%.

    Earlier in the year, chains like Best Buy and Walmart stocked up on merchandise, preparing for supply chain shortages and what they projected to be robust consumer demand. But their plans were derailed by inflation and slumping consumer confidence.

    Plus, many consumers had already made large purchases or upgrades while stuck at home early in the pandemic.

    Overall inflation outpaced the increase in apparel and other items.

    Apparel prices rose, but slowly. Clothing increased 3.6%, while footwear rose 2.3%. Sporting goods increased 2.7% and toys 0.6%.

    The increases made these items a relative bargain, as they were all outpaced by overall inflation.

    “In toys, sporting goods, apparel, categories like that, prices have come down more aggressively,” Walmart CEO Doug McMillon said in an interview on CNBC in December. “We’re still inflated but we’re not inflated nearly as much as we are in the other categories.”

    Here, again, many retailers misjudged consumer demand and so had excess inventory pile up. To clear out merchandise and entice shoppers to buy, stores ramped up promotions. This kept prices in check.

    Airfare prices spiked as demand roared back.

    This year, demand for air travel roared back after falling to an all-time low in 2020. Plane ticket prices jumped 36% annually in the year through November.

    In March, Delta president Glen Hauenstein called the spike in demand “unprecedented,” adding “I have never seen … demand turn on so quickly as it has after Omicron,” the Covid-19 variant that caused cases to spike last winter.

    Many airlines reported record revenue in April, May and June thanks to high airfares and full planes as travelers returned in full force two years into the pandemic.

    On the ground, travel got more expensive, as well. Gasoline prices were up 10.1% for the year, but are now off their record highs. Volatility in gas prices was largely due to Russia’s invasion of Ukraine and geopolitical maneuvers that used oil supply as a tool.

    Still, the national average could still climb back above the $4-a-gallon threshold as soon as May, according to GasBuddy projections shared with CNN.

    GasBuddy, an app that tracks fuel prices, doesn’t anticipate another year of extreme volatility, however.

    Food inflation was higher than overall inflation in the year through November.

    In the year through November, food got 10.6% more expensive, outpacing overall inflation.

    In that period, several individual grocery items got even pricier for a variety of reasons.

    Egg prices shot up a massive 49.1%, due to a supply shortage caused by a deadly avian flu, coupled with high demand.

    Margarine got 47.4% pricier because of price swings in the vegetable oil market caused largely by the war in Ukraine, while butter got 27% more expensive after a contraction in the global milk supply.

    Another staple, flour, got 24.9% more expensive due to the war in Ukraine’s impact on the global grain market and high transportation costs in the United States. Even lettuce saw a 19.8% increase, due to crop disease in California.

    Overall, grocery prices jumped 12% in the period, with many consumers accepting the higher prices as thriftier alternatives to restaurant meals, which also grew more expensive, though at a slower clip. Food away from home became 8.5% more expensive in 2022, with many restaurants hiking up menu prices in order to mitigate their own higher input costs.

    — CNN’s Matt Egan and Chris Isidore contributed to this report.

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  • Here are MarketWatch’s most popular Moneyist advice columns of 2022

    Here are MarketWatch’s most popular Moneyist advice columns of 2022

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    What fresh shenanigans and money dilemmas enthralled readers in 2022?

    Another year of broken promises, dodgy dealings and moving letters about how to get back on one’s feet after divorce, unemployment and even a 15-year abusive relationship

    The most widely-read Moneyist of 2022, however, was actually one of the shortest letters from someone called ‘Surprised Sister.” The answer, as is often the case, was not so simple, nor so short.

    Here is the No. 1 Moneyist column of the year: We are surprised and bewildered’: My brother passed away and left his house, cash and possessions to charity. Can his siblings contest his will?

    My response: There are times to contest a will: a parent who was being controlled by a new friend or greedy child, and/or someone who was forced to change their will when they were not of sound mind.

    But her own legal advice notwithstanding, I suggested she should accept your brother’s wishes. Feeling aggrieved that she did not inherit his estate is not enough to break his will. 

    Separate the emotions from the finance, and the answer often reveals itself. But there were others that ran the gamut from romance to stocks. They other most-read columns are an eclectic bunch:

    Here are the 5 runner-ups:

    1. I had a date with a great guy. I didn’t drink, but his wine added $36 to our bill. We split the check evenly. Should I have spoken up?

    It would be nice to offer to take the booze off the check, you were a non-drinker, would you speak up at one drink or two or three, if your date split the entire bill 50/50? 

    The financial intricacies of dating are like an onion that can be peeled ad infinitum. We’ve had plenty to chew over. Paying for one of your date’s drinks is OK, paying for two is pushing it.

    1. My father offered his 3 kids equal monetary gifts. My siblings took cash. I took stock. It’s soared in value — now they’re crying foul

    “The Other Brother” wrote that his father offered three children a choice: stocks or cash. The other two siblings took the cash. He took the cash. The stock soared. Dems are the breaks.

    Her siblings could have chosen stocks over cash, but they wanted immediate gratification. That was their decision, and they are going to have to take ownership of their choice and live with it.

    1. I’m an unmarried stay-at-home mother in a 20-year relationship, but my boyfriend won’t put my name on the deed of our house. Am I unreasonable?

    They have been in a 20-year relationship and have a 10-year-old child. “Not on the Deed” said she and her partner have had several tense “discussions” about adding me to the deed.

    I told her that her contribution to your partnership is valuable, her sense of worth is valuable, and her role as a homemaker and a mother is also valuable. Yes, he should add her.

    1. My friend got us free theater tickets. When I got home, she texted me, ‘Can you get our next meal or activity?’ Am I obliged to treat her?

    Even amidst the fights over inheritances, some breaches of social and financial etiquette seem so bizarre some people might think, ‘That behavior is too outrageous to be believable.” 

    The letter writer received free theater tickets, they split the bill 50/50 even though her friend had a cocktail, and she paid $10 for parking. Is he obliged to take her out again? No-can-do.

    1. My date chose an exclusive L.A. restaurant. After dinner, he accepted my credit card — and we split a $600 bill. Shouldn’t he have paid?

    Another dating story, this time where the guy chose a fancy restaurant and, as the date wore on, things took a turn for the worst, at least in the letter writer’s eyes: She was asked to split the bill.

    What if they didn’t get along? What if he was an abortion-rights supporter and she was anti-abortion? What if he was a Republican and she was a Democrat? Or vice-versa?  Always be prepared to pay.

    Follow Quentin Fottrell on Twitter.

    You can email The Moneyist with any financial and ethical questions related to coronavirus at qfottrell@marketwatch.com.

    Check out the Moneyist private Facebook group, where we look for answers to life’s thorniest money issues. Readers write to me with all sorts of dilemmas. Post your questions, tell me what you want to know more about, or weigh in on the latest Moneyist columns.

    The Moneyist regrets he cannot reply to questions individually.

    More from Quentin Fottrell:

    ‘I’m left with a $100 Bûche de Noël for 10 people — and no place to go’: My friends canceled Christmas dinner. Should I end the 30-year friendship?

    I met my wife in 2019 and we married in 2020. I put her name on the deed of my $998,000 California home. Now I want a divorce. What can I do?

    I want to meet someone rich. Is that so wrong?’ I’m 46, earn $210,000, and own a $700,000 home. I’m tired of dating ‘losers.’

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