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Nike Shares Surge More Than 14%, Hit Record High As $50 Billion Sales Outlook Tops Expectations

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Pedestrians walk past the American multinational sport clothing brand, Nike store and its logo seen in Hong Kong. Nike shares surged more than 14% on Friday morning, hitting a record high, after the sneaker maker forecast full-year sales topping $50 billion as its North American business rebounds from the lows of the coronavirus pandemic. And in greater China sales appear to be improving, with Nike management saying the company is confident about its ability to regain trust with customers there, amid threats to boycott Western brands over their comments expressing concern about alleged forced labour in Xinjiang. "These are times when strong brands can get stronger, and each quarter this reality becomes even more clear," Nike Chief Executive Officer John Donahoe said during an earnings call Thursday evening. Nike's stock was trading $152.70 at 9:35 a.m. ET. The retailer, which has a market cap of more than $211 billion, last saw its stock hit an all-time high of $147

Crypto-friendly travel site marks U.S. debut with dogecoin payment option

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Germany-based travel site GetYourGuide has debuted U.S. offerings and the ability to pay with dogecoin. GetYourGuide German travel booking site GetYourGuide marked its expansion into the U.S. market Tuesday with the announcement that it now accepts dogecoin for payment. The Berlin-based firm, which says it's booked 45 million-plus tours in 170 countries to date, is offering activity, attraction and tour bookings in major American destinations such as Hawaii; Las Vegas; Los Angeles; Miami; New Orleans; New York; Orlando, Florida; and San Francisco. In addition to dogecoin, processed via BitPay, the site accepts major credit and debit cards, as well as PayPal and Google Pay. GetYourGuide co-founder and CEO Johannes Reck said in a statement that the firm is "beyond excited" to enter the U.S. market as the world exits pandemic lockdown and people can venture out on holiday again. More from Personal Finance: As travel resumes, here's why you might use a trave

Eli Lilly CEO says drugmaker will keep looking for ways to cut insulin costs as Walmart debuts lower-price rival

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An Eli Lilly & Co. logo is seen on a box of insulin medication in this arranged photograph at a pharmacy in Princeton, Illinois. Daniel Acker | Bloomberg | Getty Images Eli Lilly CEO David Ricks said he welcomes new competition from Walmart, even as the retailer undercuts the drugmaker's prices on fast-acting insulin. Walmart announced Tuesday that it will sell a lower-price version of the notoriously expensive diabetes drug, starting this week. "Any efforts to smash through that and deliver better value to patients, I'm for," Ricks said in an interview Tuesday on CNBC's "Squawk on the Street." Walmart developed the less expensive version of analog insulin with Novo Nordisk. The fast-acting insulin will cost about $73 for a vial or about $86 for a package of prefilled insulin pens. It will be available exclusively at Walmart and Sam's Club for adults and children with a prescription. Insulin has become a focal point in lawmakers'

Looming lockdown in Bangladesh threatens apparel retailers H&M, Levi's, S&P Global says

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In this photo illustration Levi's 501 blue jeans by U.S. clothing manufacturer Levi Strauss are seen on March 8, 2018 in Berlin, Germany. Sean Gallup | Getty Images Apparel retailers including H&M and Levi Strauss are at risk of facing heightened supply chain disruptions, as regions of Southern Asia are bracing for intense lockdowns as Covid-19 cases spike, fueled by the more contagious delta variant, according to a new report. A new wave of Covid cases, especially along the Indian border, has prompted the government of Bangladesh to require its population of nearly 170 million people to remain at home for seven days, beginning this Thursday. The result will likely mean factories across the region will be forced to shut down, halting manufacturing. It marks Bangladesh's most severe lockdown to date, with people only allowed to leave their homes for emergencies. A new analysis from Panjiva, a business line of S&P Global Market Intelligence, points out that th

Shaq shoots down LeBron's comments about why so many NBA players were injured this year

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Shaquille O'Neal Scott Mlyn | CNBC Shaquille O'Neal is firing back at Lebron James over his criticism of the NBA and its schedule this year. In an interview with CNBC, the former Los Angeles Lakers star and TNT broadcaster said he thinks players need to stop complaining about the busy playing schedule this season. "When you're living in a world where 40 million people have been laid off and I'm making $200 million, you won't get no complaining from me," O'Neal said. "I'd play back to back to back to back to back," he added. "I'm not knocking what anybody said, but me personally, I don't complain and make excuses, because real people are working their tail off and all we gotta do is train two hours a day and then play a game for two hours at night and make a lot of money ... So my thought process is a little different." O'Neal's comments come after James' criticism that the schedule was at fault f

Walmart Unveils Low-Price Insulin As More Patients With Diabetes Struggle To Pay For Drug

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A diabetic draws insulin from vial. CNBC - Adam Isaak Walmart said Tuesday it will offer a less expensive version of insulin that could better fit into the budgets of millions of Americans who don't have health insurance or struggle to pay for the lifesaving diabetes drug. Starting this week, the retailer will sell an exclusive private-label version of analog insulin, ReliOn NovoLog, to adults and children who have a prescription. The drug will be available at its membership-based Sam's Club in mid-July. The insulin will cost about $73 for a vial or about $86 for a package of prefilled insulin pens. The insulin is the latest addition to Walmart's private brand of diabetes products, ReliOn. It already sells a low-price version of insulin for about $25 as part of the line, but that is an older formulation that some doctors and advocates say is not as effective at managing blood sugar swings as newer versions of insulin, called analogs. With the move, Walmart will br

Etsy CEO bets on e-commerce growth in Brazil with $217 million Elo7 deal

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Etsy, the online crafts marketplace, is banking on Latin America to be a growth catalyst for the e-commerce company with the acquisition of the Brazilian online marketplace Elo7. Etsy shares jumped 7% Monday after it announced the $217 million deal to acquire Elo7, which Etsy CEO Josh Silverman called "the Etsy of Brazil." "This is all about growth potential over the medium and over the long term," he said in a "Mad Money" interview. "The opportunity for Brazil's e-commerce sector to grow faster than the U.S., we think, is very meaningful over time." The e-commerce market in Latin America has a penetration rate of less than 10%. The market could produce about $29 billion of revenue this year and is forecast to grow at a 26% clip annually, according to the market research firm Euromonitor. Similar to Etsy, Elo7 allows merchants to set up an online shop and sell items to buyers. The site, among the largest online marketplaces in Brazil, b

Juul agrees to $40 million settlement in North Carolina teen marketing lawsuit

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Packages of Juul mint flavored e-cigarettes are displayed at San Rafael Smokeshop on November 07, 2019 in San Rafael, California. Juul, a leading e-cigarette company, announced that it is halting sales of their popular mint flavor e-cigarette after the release of two studies that showed a surge in teen use. Justin Sullivan | Getty Images News | Getty Images Juul Labs has agreed to pay North Carolina $40 million and change its business practices in the state. Regulators and health officials have blamed the company for the surging popularity of e-cigarettes among teens in recent years. In 2019, federal data found that more than 1-in-4 high school students had used an e-cigarette in the past 30 days, up from 11.7% just two years prior. As of 2020, that number fell to 19.6% of high school students amid greater regulatory scrutiny and the coronavirus pandemic. "North Carolina is now the first state in the nation to hold Juul accountable for its instrumental role in creating

Here are 5 ways to spend money that can actually make you happier

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Patrik Giardino | Stone | Getty Images It's no surprise that Americans are ready to start spending as the Covid pandemic eases. After being cooped up for a year, people are opening their wallets for anything from dining out to shopping for merchandise and vacations. But will your buying spree bring you joy? It depends, said researcher Elizabeth Dunn, PhD, chief science officer for financial technology firm Happy Money and author of "Happy Money: The Science of Happier Spending." As her book suggests, Dunn conducts research on spending and happiness. Everyone's needs are different, so she first advises you identify what purchases are making you happy, and which ones are not. It's also a good time to look back on what you discovered you could live without during the pandemic. "So much of our spending is habitual," said Dunn, who is also a professor in the Department of Psychology at the University of British Columbia. "I run to the coff