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Yahoo Finance at Yahoo Finance 1 day ago
It’s football season across the pond!
The New York Jets and Miami Dolphins are bringing U.S. football to the United Kingdom and preparations are intense - this isn’t a trip to sunny Miami after all.
Ahead of the trip, the Jets shipped 5,000 items to London in August. These items include extension cords, American breakfast cereal, barbeque sauce and here’s the kicker… 350 rolls of toilet paper. Last time we checked the UK had TP but who knows, maybe things have changed.
The Jets are also preparing by hiring sleep specialists to fight off jet lag. They even flew the chef from their London hotel to the U.S. in order to learn how to cook like an American.
“Some may say that’s a little over the top or whatnot, but it didn’t really cost that much, so why not?” Aaron Degerness, Jets senior manager of team operations told the New York Times.
Teams that want to be considered to host the NFL Super Bowl must participate in a London game. George Osborne, Chancellor of the Exchequer in the UK met with NFL officials today and expressed interest in permanently bringing Football to England within the next five years.
Check back here next week for more weird business news.
More weird business news:
Andy Serwer, Editor-in-Chief of Yahoo Finance talks with Ian Bremmer, Founder & President, Eurasia Group, Gov. Jon Huntsman, Jr. and Kevin Rudd, Former Prime Minister of Australia at the 2015 Concordia Summit in New York about the dynamic nature of the relationship between the U.S. and China.
This session explores questions surrounding the complex dynamics of the Sino-American relationship, including: How will the next U.S. President pursue a “rebalance” strategy that addresses military, diplomatic, and economic tensions? In light of China and America’s economic interdependence, to what extent are both sides willing to find areas of cooperation in the effort to better manage the strategic rivalry? In what ways are China’s economic woes connected to domestic policies and how will President Xi’s reform agenda fare in this period of decline? Will Chinese economic woes translate into more powerful negotiating positions for other countries and world powers in major geopolitical arenas such as in the South and East China Seas?
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U.S. stocks (^DJI, ^IXIC, ^GSPC) did not like today's jobs report. The U.S. added 142,000 jobs in September well below the 200,000 that was expected. What then is the new time line for the Federal Reserve to raise interest rates and is there any good news to come out of economic data of late? Check out the video above for more.
Happy Friday, traders. Fall is in the air here in New York and change is in the air at Ralph Lauren (RL). The leader of the eponymous clothing brand is stepping aside as CEO - but he's not going far. Ralph will hold dual titles of executive chairman and chief creative officer and new CEO Stefan Larsson (A Swede who managed Old Navy and H&M) will report to the 75 year-old fashion icon.
Since it's Friday we're whipping up a cocktail in honor of the storied career of Mr. Lauren. If you look this one up online you'll see it 's called the All-American, not unlike the brand that is now under Mr. Larsson's purview.
But here at Yahoo Finance we're calling it the Whiskey Ralph in Ralph Lauren’s honor.
Want to try it? Here’s how you make it:
In a cocktail shaker full of ice add one ounce of Tennessee whiskey, a half ounce of amaretto, a little bit of simple syrup and two ounces of Apple Cider.
Now squeeze two orange slices into the mix and throw them in as well.
Give it a good shake and strain it into a rocks glass.
Have a great weekend and here's to you Mr. Lauren!
Yahoo Finance Senior Columnist Michael Santoli says the report clearly raises questions about the strength of the economy.
"This is going to be a significant story about a potential slowdown," he explains. "We basically have to get used to the idea perhaps that we did have the effect of that global slowdown in this country. Definitely not the story we were looking to hear."
And Dominick Tavella, President and CIO of Diversified Private Wealth Advisors, feels the Federal Reserve has no choice now but to hold off on raising interest rates anytime soon.
"Most of us thought the Fed could raise this quarter and slow it down going into 2016," he says. "I find it hard to believe they're going to raise at all this year, and I thought that concept was crazy 3, 6 months ago."
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Imagine being on top of the business world, transforming a small brokerage in San Francisco into an online trading behemoth, to then being shown the door after the dot com bubble popped. Well, that happened to David Pottruck, former CEO of Charles Schwab (SCHW), but he rebounded in a big way. An accomplished athlete at Penn, Pottruck began his career nearby on Wall Street. But when Charles Schwab came calling, it was tough to resist. “Chuck is a visionary,” Pottruck notes in the attached video. “Chuck understood that that was all about building a team, and he had recruited a terrific team of people over the years and I was lucky enough to get brought from New York out to San Francisco. It was the first inning of something really terrific.” Pottruck was at Schwab for nearly 20 years, and became CEO at the end of his tenure, but ultimately was let go when times got tough. “We were experiencing so much growth it was hard to keep up,” he says. “And then when the dot com thing happened in 2000 and the market went seriously down and … our volume in trading dropped by two thirds.”
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Wings. Beer. Sports. That’s the focus for Buffalo Wild Wings (BWLD), which has managed to rise about 40% in the last year compared with a flat S&P (^GSPC). And with the football season just kicking off, that means a lot of time will be spent eating chicken wings and drinking beer...
CEO Sally Smith explains that the football kick off remains an important traffic driver for the brand, but also that the company's broader sports promotions, including this summer's "The Blazin World of Sports" that highlighted under-the-radar sports, also drove customers to Buffalo Wild Wing's over 1000 locations.
"It's always important to stay fresh and relevant in the mind of the guest when you're thinking about where you want to go out to eat," says Smith. "So it's a combination of the environment certainly, our design, keeping the restaurants up to date and great television viewing. It's also about limited time offers that you can't get during some parts of the year."
U.S. stocks (^DJI, ^GSPC,^IXIC) couldn't manage to keep the winning streak alive and have kicked off the fourth quarter down today. The next big catalyst for the market comes tomorrow when the government reports monthly non-farm payroll data.
Yahoo Finance and Yahoo News are teaming up with Concordia on its fifth annual summit of business and government leaders from around the world, including Vice President Joe Biden, Coca-Cola Chairman Muhtar Kent, Former Utah Governor Jon Huntsman, and many others.
Vice President Biden expected to speak at 6:15pm ET at the 2015 Concordia Summit in New York City.
Investors look to build on the momentum of yesterday's last day of trading in the third quarter...a quarter which saw the S&P 500 (^GSPC) fall almost 7%, the worst 3-month decline for Wall Street since 2011.
Yahoo Finance Senior Columnist Michael Santoli believes stocks will be driven now by what investors think about the economic climate in the fourth quarter.
"The market is trying to figure out whether it it really has to further downgrade U.S. growth and corporate profits going into next year," he says. "There's a wide range of opinions surrounding what is going to be the consensus opinion on that."
Speaking of economic growth, investors are awaiting tomorrow's key September jobs report. Ahead of that data, the Labor Departmentsaid weekly unemployment claims came in at 277,000, a bit above economists' forecasts.
Twitter CEO...Day 2
Here are some of the stocks the Yahoo Finance team will be watching for you today.
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