TikTok Ban Possibility Has Advertisers Becoming Frantic

The Chinese-owned firm TikTok is once again threatened with a potential ban in the U.S. due to national security concerns, so advertisers are looking for any reassurances from the viral app that helped usher in a surge of short-form video across social media. Advertisers will be keenly monitoring Chief Executive Officer of TikTok Shou Zi…

Advertisement

Nike Sneakers Drive Sales, But Excess Apparel Stocks Remain A Negative

After reporting results for the quarter that exceeded expectations, Nike increased its full-year revenue outlook but issued a warning about margin pressures as it continues to aggressively discount excess inventory. Strong demand for the company’s sneakers, including vintage designs like the Jordan Retro and more recent franchise releases like the LeBron 20, helped it increase…

Jack Daniel’s Trademark Dispute Involving A Dog Toy Is To Be Heard By The US Supreme Court

The United States Supreme Court heard arguments on Wednesday in a closely watched trademark dispute between Jack Daniel’s and a dog accessory company behind a parody chew toy resembling the distiller’s well-known black-label whiskey bottle. Some justices questioned the whiskey maker’s request that they abandon a long-standing legal test that allows for an early exit…

Switzerland Limits Credit Suisse Bonus Payments

Bonus payments for Credit Suisse employees have been restricted by Swiss authorities, a move that will punish bankers following a multi-billion franc state rescue of the bank. Credit Suisse was told to “temporarily” suspend “already granted but deferred variable remuneration,” such as shares, awarded in the years up to 2022, according to a statement from…

Tech Similar To ChatGPT Is Added To Microsoft 365

Microsoft 365, the company’s most popular work software, is getting the technology that powers ChatGPT, the artificial intelligence (AI) system that has received the most attention in the world. The program, which Microsoft is referring to as Copilot, will reportedly be integrated into Word, Excel, PowerPoint, and Outlook. Satya Nadella, the CEO of Microsoft, said…

FedEx Increases Its 2023 Earnings Forecast As Cost-Cutting Measures Are Successful

In order to offset ongoing demand weakness at units like FedEx Express, FedEx increased its full-year earnings forecast. In contrast to its previous estimate of between $13.00 and $14.00, FedEx now anticipates adjusted earnings per share for fiscal 2023 to range between $14.60 and $15.20. Refinitiv consensus estimates indicate that $13.56 in EPS for the…

India’s Fintech Firm PhonePe Secures Additional $200m From Walmart

PhonePe, an Indian digital payments company, announced on Friday that Walmart Inc., its major investor, had contributed $200 million to its $12 billion pre-money valuation. One of the most valuable startups in India and the most valuable payments company, PhonePe, said the investment is a part of its ongoing $1 billion round of fundraising. At…

Putin Urges Russia’s Billionaires To Prioritize Their Country Over Their Own Interests

Russian President Vladimir Putin urged Russia’s billionaires to prioritize nationalism over personal gain and to make investments domestically to support the country’s economy in the face of Western sanctions. Putin spoke directly to Russia’s business elite for the first time since the day he sent his troops into Ukraine on February 24 of last year, telling…