Author: openjargon

  • Shoplifting’s biggest enablers might be the retailers themselves

    walmart shopper
    People shop at a Walmart Supercenter store in Rosemead, California in 2019.

    • Retailers have been talking a lot about how theft is a problem at their stores.
    • But Walmart, Target, and other chains's own policies and practices could be worsening the problem.
    • From conflicting policies to understaffing, retailers can make it hard for workers to prevent theft.

    The retail industry has spent much of the past year raising alarms around shoplifting and "organized retail crime."

    But while conversations around the problem of theft at stores often centers around external factors like law enforcement and the criminal justice system, one of the biggest obstacles to curtailing theft might be a lot closer to home.

    That's because major retailers, including Walmart, Target, and others, have policies that sometimes prevent their own staff from addressing shoplifting at their stores, current and former employees told Business Insider.

    Some workers have been disciplined or fired if they go after shoplifters, according to interviews and media reports. Others say a lack of resources and follow-up after the fact also makes it more logical for the workers to just turn a blind eye to the problem rather than do anything about it.

    Most retailers have policies preventing employees from taking action when theft happens

    Rhea Gordon, a former Walmart associate at one of the retailer's stores in North Carolina, told BI that she was fired after trying to catch two shoplifters who were taking hundreds of dollars worth of makeup.

    On one hand, Gordon said, managers told her and other employees to check shopping baskets, bags, and other areas where customers could hide unpaid merchandise.

    On the other, associates are frequently told not to engage with customers who resist or who make threats after employees approach them. Walmart's Customer Theft policy, for instance, repeatedly tells associates "to disengage and withdraw from the situation" and contact law enforcement if the situation becomes at all heated, according to a copy reviewed by BI.

    "Associate safety is always a top priority and we have policies in place to protect the health and wellbeing of those in our stores," a Walmart spokesperson said.

    Dollar General's employee handbook takes a similarly hands-off approach. "If you suspect that someone is shoplifting, you should provide them with good customer service as you would any other customer and inform the manager on duty of your observations," the handbook reads. "Store employees must never become involved in physical or verbal confrontations or touch a customer."

    A Dollar General spokesperson said: "We prioritize employee and customer safety over the potential loss of merchandise. For that reason, employees are instructed not to place themselves or others in danger in order to prevent shoplifting."

    Lululemon also made news when it fired several workers who had attempted to intervene with suspected shoplifters. CEO Calvin McDonald cited safety concerns with regard to the company's zero-tolerance policy, telling CNBC, "It's only merchandise."

    Even if your job is actually in security, your hands are metaphorically tied.

    Last summer at a grocery store in Colorado, security worker Santino Burrola was fired after he followed and filmed a group of suspected shoplifters loading a cart full of merchandise into a car.

    A Target worker in California told BI his location sees multiple instances of theft per day, with the company's Assets Protection employees giving chase — but usually unable to do anything to stop the theft or get information that could curb future thefts.

    "The policy is not to touch them but just ask them to please don't steal from us," the worker said. "If they make it to the sidewalk, then they are scot-free." Target did not respond to a request for comment.

    Several former Walmart employees, by contrast, pointed out that the retailer's asset protection teams are tasked with observing and reporting possible crimes, but are otherwise instructed to not reveal themselves or their role to customers.

    Retailers don't always hire enough employees — or give them the tools — to prevent theft

    It's not just policies that hold employees back. At some stores, workers just don't have the resources to prevent theft.

    At Walmart, for instance, associates who monitor self-checkout are supposed to conduct random "cart checks" of Spark drivers who shop an order before delivering it. The process involves the associate scanning a few items using a phone app before allowing the Spark driver to exit the store.

    But one contractor who shops and delivers for Walmart's Spark delivery service in Montana told BI that associates at his store don't have a phone to carry out the check "nine times out of 10."

    When that happens, associates direct him to ignore the cart check notification on his own phone, telling him that it will "time out" eventually, the driver said. "Walmart has a system that doesn't work because Walmart doesn't provide them the tools," the driver said.

    "They have an electronics department," the driver added. "Go get a phone, they're right there."

    The Walmart spokesperson confirmed that the retailer conducts cart checks but didn't comment on the lack of devices.

    There's another seemingly chronic issue: companies just aren't hiring enough staff.

    While pandemic turnover and rising wages have been challenges, many retailers have understaffed their stores for years.

    For instance, Dollar General often operates stores with as few as one employee on duty.

    "If there's one person for a store that is thousands of square feet, how much is one human being going to do?" Thea Sebastian, director at the Futures Institute, told BI. Sebastian and Hanna Love, a fellow at Brookings, co-authored a recent study that found retail theft is hard to quantify — and frequently overstated.

    Among the report's recommendations for retailers: Hire enough employees at stores, and make sure they aren't constantly overworked. "A happy worker is going to make for a much happier customer, who then is going to be much less likely to engage in these activities," Sebastian said.

    Having happy employees — and enough of them — is "not only effective in reducing crime, it will just help improve the customer experience," Love said.

    "Who wants to go into a store when everything's already behind the glass, you can't find a person to open it for you, and you just walk out?" she said.

    Do you work at Walmart, Target, or another major retailer and have a story idea to share? Reach out to these reporters at dreuter@businessinsider.com or abitter@businessinsider.com

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  • I went from a Big Tech job to folding clothes at a retail store. My new role gave me confidence and joy when I needed it the most.

    Photo collage featuring Hady Mendez, a retail shopping cart, a cursor, and an "Apply" button
    • Hady Mendez worked as head of equality at a major tech company before being laid off.
    • She said it's been one of the most difficult times in her professional career.
    • Mendez said she's happier with the flexibility since starting her own business and a part-time job.

    "I should totally go work there. I spend half my paycheck there anyway."

    This was the conversation between me and my friend, Jannet. It's what I refer to as my famous last words before I applied for a retail job at a clothing store after working in corporate for 25 years.

    It was the Fall of 2023. About nine months earlier, I had experienced a layoff from my job as head of equality for a major tech company where I worked remotely while serving as an advisor to our seven Employee Resource Groups (ERGs), a liaison to the office of equality, and a program manager. Almost immediately, I launched my business, Boldly Speaking, leaning on my speaker skills and years of experience with ERGs.

    I was having a solid first year in my business, both from a client acquisition and revenue perspective, but I knew things were about to slow down due to the holiday season.

    Enter my brilliant idea: Take on a "bridge job," a job that would give me the time and money I needed as I worked toward building my business or moving to my next big opportunity. The income would allow me to keep more of my savings intact. It would also allow me to buy coffee and treat myself to those gluten-free, vegan sweets I'd come to enjoy so much without feeling guilty.

    I ended up working at an Athleta store in NYC, and I'm glad I decided to join that team. What sticks with me most is the confidence and joy I've found during a time filled with so much doubt and uncertainty.

    Imagine what it was like to land a brand associate role in one of my favorite stores

    Now is probably a good time to share that I love the Gap Inc. brand. About 90% of my clothes come from Athleta and Gap. I wear their clothes to business meetings, to hang out on the weekends, and to go for long walks. I'm quite literally a walking advertisement for this brand.

    I landed a seasonal brand associate role and felt like a kid in a candy store. I've done everything from helping customers find clothing items, sweeping and mopping the floor, folding clothes, cleaning mirrors and windows, shipping items from the store, and ringing up customers.

    I wanted to buy everything in my first few weeks on the job. Even as I was enjoying the experience of being around my favorite brand several days a week, I was learning a lot about the clothes, our customers, and the role every associate plays.

    There were some funny aspects to my transition. I like to get to places early, and I found out quickly there was no need to be more than five minutes early for my shift. Also, while I always made it a point to take a lunch break during my corporate days, now I'm actually legally mandated to take a 15-minute break during my shift (sometimes more if the shift is longer). I've learned to look forward to these breaks as an opportunity to reset and come back to the floor even stronger.

    One thing that's really different from corporate is that we have daily goals for the store. Each day, we focus on a different sales target or objective.

    What started as "seasonal work" has now become a part-time gig for me

    Much like my tech and financial services jobs, my favorite part of working at the clothing store is interacting with customers.

    I love to hear about what they're looking for, where they'll be wearing the items they purchase, and how they want to feel. What I love even more is the look on their face when they find an item that not only feels good but looks great too.

    Surprisingly I've discovered I'm actually kind of good at this brand associate work. When I was younger, I worked for my father at his shoe store, and I remember being a lousy salesperson because I always wanted to be behind the register. But somehow, I inherited some of that great customer service "mojo" from my dad because customers enjoy working with me.

    Part of me wants to go back to corporate life and a stable, predictable routine

    Finding a full-time job in this market has been incredibly challenging while starting a business from scratch has presented its own unique set of challenges. It's definitely been a time of transition for me.

    If I'm honest, it has been one of the most difficult times in my professional career. I've experienced a broad set of emotions since my tech layoff: shock, anger, fear, anxiety, worry, and even profound sadness.

    What I miss most about corporate life is working on a major project or customer deliverable as a team. I pride myself in adding a lot of value in those types of scenarios — always finding ways to lean into my critical thinking superpowers to over-deliver and exceed customer expectations.

    Another part of me really loves the flexibility and independence I experience as an entrepreneur

    I have to say the flexibility I have as an entrepreneur is unmatched. I can take off whenever I want, be creative, and explore new projects, and am very much aligned with what I believe to be my purpose. Admittedly, I'm a bit spoiled by my current situation and know it will take a great company and role to bring me back to corporate.

    Everything in life has a season. And I believe this has been my season to enjoy entrepreneurship with all of its ebbs and flows. I don't plan to leave my job at Athleta any time soon. The longer I work there, the more I realize I'm where I belong — for right now.

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  • Lufthansa just got its first Airbus A350 fit with its upgraded Allegris cabin — which will soon include first class with a double bed. See inside.

    Lufthansa new Allegris first-class suites: Interior photo showing the seating and a large TV screen
    Lufthansa's new "Allegris" first-class cabin sports a double bed, shown in a rendering.

    • Lufthansa is launching its new "Allegris" cabin on Airbus A350 planes starting in May.
    • Allegris represents a new era of comfort for Lufthansa and will initially serve Canada and the US.
    • The double bed-equipped first class suite will not deploy until late 2024 due to supplier delays.

    After seven years of developments, Germany's flag carrier is finally launching a long-overdue cabin upgrade.

    On Sunday, Lufthansa Airlines CEO Jens Ritter announced on LinkedIn the delivery of the airline's first-ever Allegris-equipped airplane — an Airbus A350, registered D-AIXT and nicknamed Leipzig.

    The airline said it would start flying the A350 and Allegris on select flights to North America in May, first to Vancouver and then to Toronto.

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    Lufthansa told the Runway Girl Network on Monday that these routes would be part of "the introductory phase, lasting several months." Routes to the US — the first planned to Chicago — are set to begin by "late summer 2024," the airline told RTN.

    The rollout will touch economy, premium economy, and business class. A first-class cabin is also planned, but Lufthansa told RTN that supplier challenges have delayed its launch until late 2024.

    Lufthansa did not immediately respond to a request for comment from Business Insider.

    Here's a closer look at Lufthansa's new Allegris cabin design, featuring everything from double beds to minibars.

    Lufthansa first announced Allegris in 2017, but at the time planned to launch the new cabin on the Boeing 777X — not the A350.
    A Lufthansa Airbus A350 airplane taking off.
    A Lufthansa Airbus A350 airplane, which is set to sport the new Allegris cabin.

    Boeing's yet-to-be-certified 777-9 was expected to fly commercially by 2020, but yearslong production problems have delayed that at least five years to 2025.

    Lufthansa has shifted Allegris to the rival A350 amid the delays, the first spending weeks at the Airbus factory in Toulouse, France before being delivered to Lufthansa on Saturday, Ritter said on LinkedIn.

    Some 27,000 seats across Lufthansa's fleet are set to be configured with Allegris.
    Lufthansa Allegris blue economy seat.
    The new Lufthansa Allegris economy seat, shown in a rendering.

    Lufthansa plans to eventually fit the cabin onto more than 80 future aircraft, including Boeing 787-9s, the 777X, and more A350s.

    The Boeing 747-8 double-decker fleet, which has notoriously dated premium cabins, also will see a retrofit, the airline has said.

    Allegris covers four cabins: economy, premium economy, business class, and first class — the latter absent from Lufthansa's first A350s.
    Lufthansa Airbus A380 first class.
    The dated current first-class cabins can be seen aboard one of Lufthansa's A380 aircraft; it's also aboard its A350 fleet.

    Lufthansa has postponed the deployment of Allegris first class to the fourth quarter of 2024.

    According to the German media outlet Travel-Dealz, Lufthansa told reporters in December that it would install extra economy seats in lieu of first class on the initial A350s jets flying with Allegris while it waits on the cabin supplier.

    Once eventually installed, first class is set to boast private suites with double beds, closets, and giant televisions.
    Lufthansa new Allegris first-class suites: Interior photo showing a double bed
    Single suites, shown in a rendering, are set to feature 32-inch TVs, while the Suite Plus TVs will be a whopping 43 inches.

    Lufthansa said in a March 2023 press release that the ceiling-high walls, 40 square feet of space, and the fully closable door in first class convey the "feeling of privacy and individuality similar to a hotel room."

    The cabin includes single suites and double suites, the latter is dubbed "Suite Plus" and is set to feature a wide couch that converts into a double bed big enough for two people.

    Three suites will be available per A350 plane, Lufthansa said.
    Lufthansa new Allegris first-class suites: Interior photo showing a regular first-class cabin
    The single suite option in Allegris first class aboard Lufthansa, shown in a rendering.

    Each suite is temperature controlled, with passengers having the option to choose to cool or heat their individual cabins.

    Moreover, a side table, storage, lighting, a minibar, and a control panel will be available to enhance traveler comfort inside the suite, the airline said.

    While Lufthansa awaits its most lucrative offering, flyers can book Allegris business class — and it's a big upgrade from current offerings.
    Inside Lufthansa's Boeing 747-8i.
    The current 2x2x2 layout in Lufthansa's Boeing 747-8 business class doesn't offer direct-aisle access to window seat passengers.

    Lufthansa has a notoriously mediocre business class, with many of its widebody planes — like the Boeing 747, the Airbus A330, and the Airbus A380 — sporting cabins in 2×2×2 layouts lacking direct-aisle access and privacy.

    Following the trend of improving privacy in business class, Allegris will be on par with the likes of Qatar Airways, All Nippon Airways, and Delta Air Lines, which offer sliding doors in their premium cabins. Air India and British Airways have made similar upgrades.

    According to the airline, its new business class offers seven unique seating options, starting with the "Classic" seat.
    Classic Lufthansa Allegris window seat.
    A new "Classic" Lufthansa seat, shown in a rendering.

    The basic option is called "Classic" and has the expected bells and whistles of business class, like a lie-flat bed and direct aisle access.

    Each also offers "generous" shoulder space to optimize sleep comfort, as well as the same heating and cooling system offered in first class, according to Lufthansa.

    Building on the Classic seat, Lufthansa offers six other options in business class.
    Seat options for Lufthansa Allegris with blue seats.
    Extra-privacy window seat (top left), extra-long bed (top right), extra-work space (bottom left), and baby bassinet seat (bottom right).

    These include single and double suites in the first row, seats with extra work surfaces, high-privacy window seats with or without a baby bassinet, seats with extra-long beds, and a double berth in the last row.

    The first-row suites are the only business class options with a door.

    This design strategy gives Lufthansa's Allegris business class passengers more choice.
    First row suites in Lufthansa business class.
    First-row suites with sliding doors in Lufthansa's Allegris business class.

    According to RTN, the Classic option will represent the base price of Allegris business class, with extra-amenity options costing more.

    This unbundling approach means travelers who don't want a seat with more work space or a longer bed, for example, don't have to pay for things they don't need.

    A majority of those enjoying Lufthansa's new Allegris cabin are those flying in premium economy or regular coach.
    Lufthansa Airbus A350-900.
    Lufthansa's newly delivered A350s will be equipped with Allegris.

    Premium economy is not completely new to the Lufthansa Group, with Switzerland-based SWISS, one of its brands, getting a similar cabin in the spring of 2022.

    Premium economy features fixed-shell seats where the recline does not impede on the person in the row behind.
    Lufthansa's new long-haul premium economy.
    Lufthansa's new long-haul premium economy, shown in a rendering, reclines within its shell.

    According to Lufthansa, its Allegris premium economy features more legroom and a legrest and can be "adjusted even further back than the current model."

    The seat offers about 39 inches of pitch.

    Passengers flying in the cabin will enjoy noise-canceling headphones, wireless charging, and an amenity kit, among other perks.
    The premium economy seats included in Lufthansa's Allegris layout planes with seatback screens showing.
    The premium economy seats set to debut in Lufthansa's Allegris cabin.

    A large 15.6-inch television with Bluetooth connectivity, a USB port and universal power outlet, an adjustable headrest, leather armrests, and a cocktail table between the seats also will await flyers, the airline said.

    Although the lowest-end option, Lufthansa's new coach product offers plenty of comforts.
    Lufthansa economy seat with seatback screens in view.
    The seatback screens and tablet holder in Allegris coach, shown in a rendering.

    Each regular economy seat has an adjustable headrest, a tablet holder, charging ports, and a Bluetooth-enabled television that measures 13.3 inches.

    The 31-inch seat pitch is on par with competitors like British Airways and Finnair.

    Travelers can choose from three different coach seats: classic, legroom, and neighbor.
    Lufthansa economy headrest with logo.
    Lufthansa coach seats with have an adjustable headrest and legroom comparable to other European carriers.

    Like business class, the Allegris economy cabin has several variations that build upon a classic option.

    As the name suggests, the legroom seats, reserved at the front of the cabin, offer passengers more leg space. The "free neighbor seat" option means a passenger's adjacent seat will be empty for the flight — essentially a 2-in-1 booking.

    While Allegris will represent the next era of comfort for Lufthansa, it is not the airline's first cabin upgrade in recent years.
    PAL_A350_BusinessClass_5 Philippine Airlines
    The 1x2x1 business class on Lufthansa's ex-Philippine Airlines A350s.

    Lufthansa has taken on Boeing 787 and A350 airplanes from other airlines that have comparatively better business-class cabins than what is seen on its traditional widebody fleet.

    These are interim cabins the company got from Hainan Airlines and Philippine Airlines, respectively, and are not the same as the Allegris seats coming in May, The Points Guy reported.

    Still, similar to Allegris, they offer comforts like direct-aisle access and ample privacy.

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  • Jon Stewart marvels at how Trump has committed ‘so many crimes’ he got ‘bored’ at his own trial

    Jon Stewart (left) and former President Donald Trump (right).
    Jon Stewart (left) and former President Donald Trump (right).

    • Jon Stewart couldn't help roasting Donald Trump over reports of him falling asleep in court.
    • Stewart was referencing The New York Times' Maggie Haberman, who said Trump nodded off "a few times" in court.
    • "He's snoring. He's doing the honk shoo," Stewart joked while making cartoon snoring noises.

    "The Daily Show" host Jon Stewart says he's amused that former President Donald Trump might have dozed off on the opening day of his first criminal trial.

    "Imagine committing so many crimes, you get bored at your own trial," Stewart said of Trump on Monday night's episode.

    Stewart referenced a report by The New York Times's Maggie Haberman on Monday's trial. Trump has been accused of falsifying his business records to cover up a sex scandal with porn star Stormy Daniels.

    In her story, Haberman wrote that "Trump appeared to nod off a few times, his mouth going slack and his head drooping onto his chest." Other outlets such as CNN and The Washington Post made similar observations of Trump.

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    "He appeared to be asleep and repeatedly his head would fall down," Haberman told CNN's Jake Tapper on Monday.

    "Hey Jake, what part of 'head down, eyes closed, drool coming out of his mouth' do you not get over here? He's snoring. He's doing the honk shoo," Stewart said on his show before imitating the snoring sounds made by cartoon characters.

    "There's a piece of paper going up and down and up and down in his mouth," Stewart added. "He's asleep."

    But this wouldn't be the first time Trump has appeared to fall asleep while in court, Haberman told CNN.

    "There have been other moments in other trials like the E Jean Carroll trial which was around the corner in January, where he appeared very still and seemed as if he might be sleeping but then he would move," Haberman said.

    Haberman was referencing the defamation case that Trump lost earlier this year. Trump now owes $83.3 million in damages to Carroll, a writer that a jury ruled last year he had sexually abused.

    To be sure, Trump has been making frequent appearances in courts. Besides the civil trials involving Carroll, Trump was also ordered to pay a $175 million bond on April 1 for his New York civil fraud case.

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    The Trump campaign later issued a statement to The Independent refuting Haberman's report, calling the idea that Trump would fall asleep in court "100% Fake News."

    Representatives for Trump did not immediately respond to a request for comment from BI sent outside regular business hours.

    The former president has also been charged in three other criminal cases. This includes two federal cases relating to Trump's alleged attempts to overturn the 2020 election results, and another on accusations that he hoarded classified documents in Mar-a-Lago after leaving office. None of those cases have firm trial dates set yet.

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  • An accounting firm hired to vet Truth Social’s financials quit after less than a year because they no longer wanted to be linked to Trump: FT

    WithumSmith+Brown resigned as Trump Media & Technology Group's auditor, just a few months after they were appointed in 2021, per the Financial Times.
    WithumSmith+Brown resigned as Trump Media & Technology Group's auditor, just a few months after they were appointed in 2021, per the Financial Times.

    • WithumSmith+Brown quit being the auditor for Trump Media just months after being appointed.
    • The firm didn't want to be associated with Donald Trump and his company, per the Financial Times.
    • Trump Media's share prices have plunged in the weeks since it went public. 

    The accounting firm that was first hired to audit former President Donald Trump's social media company quit just months after it was appointed, the Financial Times reported on Monday.

    WithumSmith+Brown was appointed to vet Trump Media & Technology Group's financials soon after it was founded in early 2021. But the firm resigned before the end of 2021, the FT reported citing people familiar with the matter.

    According to the FT's sources, WithumSmith+Brown no longer wanted to be associated with Trump and his company after several months on the job.

    The accounting firm declined to comment on why it had resigned when approached by the FT.

    "Apparently, the Financial Times' business model is to charge its subscribers $75 per month for the privilege of reading outdated stories touting irrelevant information," Trump Media said in a statement to the FT.

    In January 2022, Trump Media instead turned to a smaller accounting firm to conduct the audit, BF Borgers, which has less than stellar record with regulators. The Public Company Accounting Oversight Board said it identified multiple deficiencies in every audit it had reviewed from BF Borgers in the past two years, per Bloomberg.

    BF Borgers was also removed from the American Institute of Certified Public Accountants' peer review program in November "because the firm was found to be so seriously deficient in its performance that education and remedial, corrective actions are not adequate."

    Representatives for BF Borgers did not respond to FT's request for comment.

    The news surrounding Trump Media's auditors come amidst a volatile time for the company's stock price.

    The company's shares initially skyrocketed when it went public in March, only for prices to plunge just a week later. Trump Media's shares had fallen again on Monday, per Axios.

    That isn't great for Trump, whose net worth is tied to his holdings in Trump Media. The former president's net worth went up by more than $4 billion when the company's shares rallied, only for him to be kicked off Forbes' list of the world's 500 wealthiest people when it went into freefall.

    A sustained rally would have provided a much needed boost for Trump's finances, considering his growing legal debts. Trump had a posted a $175 million bond on April 1 for his new York civil fraud case. He was originally supposed to pay a bond of $454 million before an appeal courts reduced the amount.

    Trump is also on the hook for $83.3 million in defamation damages to E. Jean Carroll, a writer that a jury ruled last year he had sexually abused.

    And on Monday, Trump appeared in a Manhattan court for his first criminal trial. Prosecutors have accused Trump of falsifying his business records in order to cover up a sex scandal with a porn star, Stormy Daniels.

    Representatives for WithumSmith+Brown and Trump Media & Technology Group did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

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  • China’s GDP rose 5.3% in the first quarter, but it doesn’t mean the economic pain is over

    Xi Jinping
    Chinese President Xi Jinping at the fourth plenary session of the National People's Congress on March 11, 2023 in Beijing, China.

    • China's economy grew 5.3% in the first quarter of 2024, surpassing analyst expectations.
    • Despite this, March retail sales and industrial output fell short of forecasts.
    • China's property market struggles persist, with 1Q new home sales falling nearly 31% from a year ago.

    China reported robust economic growth for the first quarter of 2024.

    The world's second-largest economy grew 5.3% in the first quarter of this year from a year ago, according to the National Bureau of Statistics — beating a 4.8% growth analysts polled by Bloomberg had forecast and the 5.2% growth it chalked up in the fourth quarter of 2023.

    "We have got off to a solid start," Sheng Laiyun, the NBS' deputy director, said at a press briefing in Beijing, per Bloomberg. He said industry was an important contributor to growth, contributing to more than one-third of first-quarter growth.

    Despite the rosy figures, a closer look at the figures indicates there's still pain ahead.

    March retail sales rose 3.1% from a year ago, missing Bloomberg forecasts of 4.8% growth. Industrial output for March also missed forecasts, coming in at 4.5% — well below the 6% predicted by analysts.

    In particular, China's property market continued to be in the dumps amid a debt crisis, with first-quarter new home sales by value tanking nearly 31% from a year ago.

    Notably, the data did not include China's youth unemployment rate, which hit a record high of 21.3% in June 2023 before Beijing revamped the methodology for the metric to exclude full-time students.

    China has a growth target of around 5.0% this year.

    This is a developing story. Please check back for updates.

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  • Judge bench-slaps Trump lawyer 5 times on day 1 of hush money trial

    Donald Trump court
    Former U.S. President Donald Trump (C) appears with his legal team Todd Blanche, and Emil Bove (R) ahead of the start of jury selection at Manhattan Criminal Court on April 15, 2024 in New York City. Former President Donald Trump faces 34 felony counts of falsifying business records in the first of his criminal cases to go to trial.

    • Trump's lawyer was repeatedly bench-slapped on the first day of his trial.
    • Lead lawyer Todd Blanche, suffered a quintet of rebukes for his lawyering.
    • New York Supreme Court Justice Juan Merchan called out the lawyer at least five times Monday.

    It took New York Supreme Court Justice Juan Merchan four hours to dispense with pretrial matters before starting jury selection in Donald Trump's Manhattan hush money trial on Monday.

    In that time — and as an international press corps watched and took notes — Trump's lead lawyer, Todd Blanche, suffered a quintet of rebukes for his lawyering.

    Merchan didn't hit Blanche as hard as a federal judge in Manhattan has hit Trump lawyer Alina Habba for her lawyering. During the E. Jean Carroll defamation trial in January, Judge Lewis Kaplan bench-slapped Habba 14 times during a single day of testimony.

    Still, it was a bit brutal. And not the first time for Blanche, either.

    Merchan, like prosecutors, may be wearying of Trump's nearly one-dozen trial-delay attempts and what a prosecutor, Joshua Steinglass, on Monday called the defense team's "thousands and thousands of pages of frivolous motions."

    Here, in chronological order, are five of Monday's judge-burns — ranging from minor to scorching to merely comical — that would be enough to make any lawyer blanch.

    1. "I've noticed that the font has been getting increasingly smaller."

    On March 8, Merchan devised a rule to rein in pre-trial motions. He ordered from that day on, instead of filing new motions, the parties needed to ask his permission by first filing what he called a "pre-motion letter."

    These pre-motion letters had to describe what relief was being sought, and for what reason, in only a single page. Only if the judge approves can the full motion be filed.

    In a minor, humorous burn from early Monday morning, the judge noted with a smile that the defense has kept to the one-page limit. But they did so at the cost of legibility.

    "I think that Mr. Blanche is clear now that a pre-motion letter is one page," Merchan began. (Blanche's first pre-motion letter had been filed with a 51-page motion and 214 pages of exhibits attached).

    "But I notice that the font has been getting increasingly smaller," and the margins increasingly smaller, too, the judge quipped.

    2. "Well, I don't know how you managed to get all those motions filed then."  

    Later in the morning, the parties argued over trial exhibits. The defense had still not told prosecutors what exhibits they planned to show jurors at trial.

    "Amazingly," Steinglass, the prosecutor, complained, "we have yet to receive a single designated exhibit" from the defense.

    When Blanche countered that the defense has just been too busy, Merchan hit him pretty hard.

    "Here's where we stand," Merchan told the lawyer. "You have 24 hours, and whatever you do not identify within 24 hours, you will be precluded from introducing, frivolous or not."

    The judge continued.

    "The defense team was very busy actively filing numerous motions, some of which were really motions to renew and reargue decisions that this court had already made," he said.

    "So you have made decisions regarding how you are going to use your time, and that's fine. That's your decision to make. You have 24 hours."

    "Whatever is not received by the People in 24 hours will be precluded," he added. Period."

    Blanche kept balking, though.

    "We're expected to comply while we're in court the rest of the day, and all day tomorrow?" he complained.

    "Well, I don't know how you managed to get all those motions out," the judge snapped back.

    "Literally one Sunday you got three pre-motion letters to me with exhibits and attachments," all filed within 30 minutes, the judge added.

    "The way you choose to use your time is your business. My order was clear. You are directed to do it, and you are directed to do it immediately."

    Donald Trump at his hush-money arraignment with attorneys Todd Blanche and Susan Necheles.
    Donald Trump at his hush-money arraignment with attorneys Todd Blanche and Susan Necheles.

    3. "Please direct me to the portion of the original gag order or the subsequent gag order, where it makes any exception if Mr. Trump feels he is under attack. I don't recall inserting that anywhere in either gag order."

    Prosecutors on Monday accused Trump of violating his gag order by targeting key witnesses — Michael Cohen and Stormy Daniels — in a trio of Truth Social attacks that the former president posted earlier in April.

    A fourth Truth Social post attacking both Daniels and Cohen went live Monday at 9:12 a.m. — that very morning, prosecutor Chris Conroy complained.

    "It's entirely possible that it was done from this courthouse," Conroy added.

    Blanche countered that Trump had little choice but to strike back against Daniels and Cohen.

    "The two witnesses themselves have been talking about their testimony in this case, President Trump's ongoing reelection, and just generally making disparaging threats constantly," Blanche complained of Daniels and Cohen's "barrage of attacks."

    The judge told Blanche to file a response, in writing, explaining why Trump should not be held in contempt for violating the gag order.

    "When you respond," the judge snarked, "direct me to any portion of the original gag order or the subsequent gag order that says that there is an exception to the gag order if Mr. Trump feels if he is being attacked."

    The judge paused, then added, with some sarcasm, "I don't recall inserting that anywhere in either gag order."

    4. "Counsel, it's important to keep breaks at a given time."

    Merchan chided Trump's lawyers after they were slow to return to court after their afternoon break.

    "Counsel, it's important to keep breaks at the given time to keep things moving, he told Blanche.

    "Yes, your honor," Blanche replied meekly.

    "We can get the jury so we can keep moving."

    Donald Trump court
    Former U.S. President Donald Trump (C) appears with his legal team Todd Blanche, and Emil Bove (R) ahead of the start of jury selection at Manhattan Criminal Court on April 15, 2024 in New York City. Former President Donald Trump faces 34 felony counts of falsifying business records in the first of his criminal cases to go to trial.

    5. "You don't think he should be here at all right now?"

    Before court wrapped for the day — without a single juror being selected — Blanche made another request of the judge.

    He asked if Trump could take off next Thursday to attend the US Supreme Court hearing in another one of his criminal cases.

    The justices are set to hear arguments over the former president's sweeping claims of immunity that he says protect him from charges brought by Justice Department Special Counsel Jack Smith, accusing him of illegally trying to overturn the results of the 2020 presidential election.

    The April 25 Supreme Court date was set in early March, but Trump's lawyers didn't raise the issue until Monday.

    Joshua Steinglass, one of the prosecutors, told Merchan that Trump should be required to be present for his case in New York — like all other criminal defendants.

    "I think we've accommodated the defense enough already," Steinglass said.

    Merchan acknowledged that "arguing in front of the Supreme Court is a big deal," but "convening a jury of 12 jurors and 6 alternates is also a big deal."

    Blanche protested — saying that Trump's litany of criminal cases against him made his situation "incredibly unusual" — and said he doesn't think Trump "should be here at all right now."

    "You don't think he should be here at all right now?" Merchan asked incredulously.

    Blanche explained that he only meant that he didn't believe the trial should happen during "campaign season."

    "I have already ruled on that," Merchan snapped. "Your client is a criminal defendant in New York County Supreme Court. He is required to be here. He is not required to be in the Supreme Court."

    "I will see him here next week," he continued.

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  • A Cybertruck owner’s video claiming a stuck accelerator pedal attracts the attention of US safety regulator

    Tesla's Cybertruck
    Tesla's Cybertruck

    • A Tesla Cybertruck owner said his accelerator got stuck on full throttle while he was driving.
    • The National Highway Traffic Safety Administration said it's in touch with Tesla over the issue.
    • The Cybertruck owner called it a "serious problem" but said he still likes the vehicle.

    Federal regulators are looking into a potential safety issue with Tesla's Cybertruck after an owner of the vehicle said in a video that part of his accelerator pedal came loose while he was driving and jammed the accelerator into the full throttle position.

    Jose Martinez, who is based in California, posted a video to TikTok on Sunday, saying he experienced a "serious problem" with his Cybertruck and describing what happened. In the video, he said he was driving a couple of days prior when what appeared to be a cover on the accelerator pedal slid forward, effectively wedging itself in a way in which it could not be released.

    "It held the accelerator down 100%, at full throttle," he said. "I was lucky enough, had a clear mind, didn't panic. And holding the break down overrides the pedal, so I was able to stop the car. But anytime I'd lift the break it would start accelerating again."

    "Somebody that panics, that could be pretty dangerous. Crazy," Martinez added.

    The video quickly went viral, apparently attracting the attention of the National Highway Traffic Safety Administration.

    In a statement provided to Business Insider, the NHTSA said: "NHTSA is aware of this issue and is in contact with the manufacturer to gather additional information."

    NHTSA looking into the issue was first reported by CNBC.

    Martinez told BI he still likes his Cybertruck and thinks "it's a great car." He also said he was surprised to see his video get so much attention.

    Tesla did not immediately respond to requests for comment from Business Insider.

    Since the first Cybertrucks started rolling out to customers in November, the distinctive vehicles have attracted celebrities and die-hard Tesla fans, but the vehicle's launch hasn't been without hiccups.

    Cybertruck owners have raised concerns about other aspects of the car, from door panel gaps to rust spots to handprints. In one of the latest complaints, several owners said that shortly after their Cybertruck was delivered, it began beeping and flashing a red alert that said, "PULL OVER SAFELY Critical steering issue detected."

    Still, some Cybertruck owners say they love the vehicle despite some issues.

    "I think Tesla gets away with a lot of stuff because the driving experience is that good," Donald Green, a Cybertruck owner in Texas, previously told BI. "Once you start driving Tesla, you never go back."

    Have a news tip? Contact this reporter at kvlamis@insider.com.

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  • Joe and Jill Biden report earning $619,976 in 2023

    President Joe Biden smiles and waves in front of a US flag
    President Joe Biden smiles waves after speaking at Stupak Community Center in Las Vegas.

    • The White House released the tax returns of President Joe Biden and Vice President Kamala Harris.
    • Biden and his wife, Jill Biden, reported earning $619,976 in 2023.
    • They paid $146,629 in federal income tax. Biden made $400,000 from his annual salary.

    President Joe Biden and his wife, Jill Biden, reported earning $619,976 in adjusted gross income in 2023, according to their newly released tax returns.

    The White House released the tax returns of the president and first lady late Monday afternoon, as well as returns for Vice President Kamala Harris and her husband, Second Gentleman Doug Emhoff.

    The vast majority of the Bidens' combined income — $400,000, to be exact— was attributed to President Biden's annual salary, as set by Congress under President Bill Clinton.

    As for Jill Biden, she reported earning $85,985 in 2023 through her teaching role at Northern Virginia Community College. She appears to have received a raise: while teaching in 2022, she made $3,650 less. The First Lady also reported $4,155 in additional income from book royalties.

    The rest of Biden's earnings came from taxable interest, pensions and annuities, Social Security benefits, and IRA distributions.

    In total, the Bidens reported paying $146,629 in federal taxes.

    Looking to Biden's second-in-command, Harris, she and her husband reported earning $450,299 and paying $89,071 in federal taxes.

    As vice president and president of the Senate, Harris reported earning $218,784 on her return. Emhoff reported making $174,994 in 2023 as a distinguished fellow at Georgetown University's Institute for Technology Law and Policy.

    The VP and second gentleman paid $15,167 in California income taxes, and Emhoff paid $11,599 in District of Columbia income taxes.

    A tale of two presidents

    Though the Biden Administration has uploaded copies of Biden and Harris' tax returns each year they've been in office, the previous president was not nearly as open with his finances.

    During former President Donald Trump's presidency, he repeatedly said he wasn't allowed to release his own returns due to an ongoing IRS audit. The House Ways and Means Committee ultimately released several years of his in late 2022, showing Trump lost millions in 4 of the 6 years from 2015 to 2020.

    In 2020, The New York Times notably reported that Trump only paid $750 in federal income taxes in 2016 and 2017.

    Upon releasing their tax returns, the White House noted this, saying that the release of Biden's taxes reflected "his commitment to being transparent with the American people."

    Meanwhile, his son, Hunter Biden, is facing charges of tax evasion. Prosecutors say the president's son avoided paying $1.4 million in taxes while maintaining a lavish lifestyle.

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  • Live Nation could be hit with antitrust suit as soon as next month: report

    A Live Nation Entertainment logo is seen on a smartphone and a pc screen.
    The concert giant Live Nation is expected to be slapped with an antitrust lawsuit as soon as next month, The Wall Street Journal reported.

    • Live Nation is expected to be hit with an antitrust lawsuit as soon as next month, The WSJ reported.
    • The anticipated suit follows a probe into the concert giant's handling of ticket and venue negotiations.
    • Live Nation, which owns Ticketmaster, has long faced criticism over its ticket fees.

    Score one for the Swifties.

    The Justice Department could sue Live Nation, the concert giant that owns Ticketmaster, as soon as next month following a probe into its handling of venue and ticket negotiations, The Wall Street Journal reported Monday.

    The company has long faced criticism over its stranglehold on the live event industry, high fees, and practices of forcing venues to sign exclusive long-term contracts, drawing ire from fans and artists alike.

    The department is prepared to file the antitrust suit alleging Live Nation leveraged is dominance in the market to suppress competition, The Journal reported, citing people familiar with the matter. Ticketmaster holds a whopping 80% of the market for event sales in the country's largest venues, holding exclusive contracts with multiple stadiums and arenas, per the outlet.

    Violating antitrust laws can carry both criminal and civil penalties, with criminal penalties capped at 10 years of jail time and $100,000,000 per violation, according to the Legal Information Institute of Cornell Law School.

    Representatives for LiveNation and the Justice Department did not immediately respond to requests for comment from Business Insider.

    The investigation into the company gained steam following massive outrage from fans when the Ticketmaster website crashed during a presale of Taylor Swift's "Eras Tour" event in November 2022.

    Swift released a statement shortly after the incident saying she was "pissed off" and described the outage as "excruciating," The New York Times reported at the time.

    "It's really difficult for me to trust an outside entity with these relationships and loyalties, and excruciating for me to just watch mistakes happen with no recourse," The Times reported Swift said. "There are a multitude of reasons why people had such a hard time trying to get tickets and I'm trying to figure out how this situation can be improved moving forward. I'm not going to make excuses for anyone because we asked them, multiple times, if they could handle this kind of demand and we were assured they could."

    Some Swifties took up the mantle against the company at the time, filing suit against the ticketing giant for violating antitrust laws and "intentionally and purposefully" misleading fans, Billboard reported — prompting a closer look from federal authorities.

    The company has denied any wrongdoing.

    "Ticketmaster has more competition today than it has ever had, and the deal terms with venues show it has nothing close to monopoly power," a Ticketmaster spokeswoman said in response to the news of the anticipated suit, per the Journal.

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