CNBC.com’s MacKenzie Sigalos brings you the day’s top enterprise information headlines. On right this moment’s present, Lauren Thomas breaks down the most important takeaways from Piper Sandler’s biannual “Taking Stock with Teens” report about which manufacturers Gen Z prefers most. Plus, Deirdre Bosa explains the motive force scarcity going through the ridesharing business, and what Uber and Lyft are doing to lure staff to their platforms.
Teen spending is slowly ticking up from document lows, in keeping with a brand new survey, as adolescents present indicators they’re able to dress up, exit and socialize once more.
A technology identified to be glued to social media apps like TikTok and Instagram, Gen Z is taking cues from style and magnificence influencers after they make their purchases, in keeping with Piper Sandler’s 41th biannual “Taking Stock with Teens” report.
One result’s on-line manufacturers like Shein and Princess Polly are surging in popularity, as are thrift marketplaces like Poshmark and Depop. A handful of traditional teen manufacturers, together with Hollister, Urban Outfitters and American Eagle, are nonetheless rating on the record of favorites.
President Joe Biden stated Wednesday that he’s prepared to barter on the proposed company tax price hike in his $2 trillion infrastructure plan.
“I’m willing to listen to that,” Biden stated on the White House when requested if he would think about a decrease company tax price than 28%, as his plan at the moment requires.
“We’ve got to pay for this,” Biden added, noting that there are “many other ways we can do it.”
“But I’m willing to negotiate that,” he stated.
The president’s comment in regards to the company tax price got here after he delivered a sweeping protection of the dimensions and scope of his proposed infrastructure overhaul.
On Wednesday, Apple and Epic Games specified by separate dueling authorized filings what they think about to be the important thing info and major authorized points forward of an antitrust trial that is scheduled to begin in May.
Apple and Epic Games, finest identified for its sport Fortnite, have been in a authorized battle since final yr after Epic Games tried to keep away from Apple’s 30% App Store payment by way of a server software program replace that skirted previous Apple’s App Store funds system. Apple responded by eradicating Fortnite from its App Store, successfully stopping iPhone customers from taking part in the sport.
Top executives from each firms are anticipated to testify in-person in federal court docket in Oakland, California in a trial that’s anticipated to final weeks.