Carl Icahn is sticking with his Herbalife investment.
In a statement released on his website, Icahn said that he had not sold any of his shares in the nutrition company and in fact upped his position by 2.3 million shares on Friday.
Bill Ackman of Pershing Square Capital, who has famously been betting against Herbalife's stock, went on CNBC earlier on Friday saying that he had been approached by Jefferies to purchase Icahn's stake in Herbalife.
"Look, I think he knows this thing is toast,"
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CARL ICAHN: Bill Ackman is a liar
-
Target is discounting everything to win shoppers back amid boycott
Target is launching a first-of-its-kind one-day sale to try and boost back-to-school shopper traffic amid a boycott over its bathroom policy.The retailer is offering a 10% discount on everything in its stores and online on Sunday. Target is calling the event #TargetRunDay.
It marks the first time Target has ever offered a 10% discount both in stores and on its website.
The sale comes after Target last week reported its first quarterly traffic decline in more than two years.
Target's same-st -
One of the key men behind Bill Ackman's bet on Valeant is leaving
One of Bill Ackman's key researchers on Valeant is leaving Pershing Square and plans to launch a startup focused on reducing healthcare costs.
Jordan Rubin, a member of Ackman's 10-person investment team, is leaving Pershing Square Capital Management in the coming weeks after seven years at the firm.
As an investment analyst, Rubin, 32, contributed to positions including Valeant Pharmaceuticals International, Zoetis, Allergan and Family Dollar.
"I think extremely highly of Jordan, -
YELLEN SPEAKS, STOCKS RISE THEN FALL: Here's what you need to know
Stocks gave up serious early gains during a day that was full of speeches from members of the Federal Reserve.
The Dow was over 100 points into the green on Friday directly following Federal Reserve Chair Janet Yellen's speech at the Jackson Hole conference. After hawkish comments from Vice Chair Stanley Fischer and others followed, however, all the major averages dove lower with the S&P 500 and Dow finishing in the red.
The moves, however, keep the now 35 day streak without a 1% m -
JIM ROGERS: The US dollar might turn into a bubble
The US dollar coud hit bubble levels as investors seek safe havens, according to legendary investor Jim Rogers.
"The dollar is going to get overpriced," Rogers said in an interview with Real Vision TV released Friday, "and the dollar might even turn into a bubble, depending on how bad the turmoil is."
People are seeking safe havens for their assets and plowing it into dollars, raising the currency's value, Rogers said.
"The US dollar is strong and will continue to -
According to this chart, 70% of the time the Federal Reserve will be right every time
Talk about a range of outcomes.
In perhaps the biggest monetary policy speech of the year, Federal Reserve Chair Janet Yellen on Friday discussed the outlook for the economy, Fed policy, and the long-term health of monetary policy more broadly.
The biggest attention-grabber from the speech was Yellen's view that, "the case for an increase in the federal funds rate has strengthened in recent months."
On Friday, data from Bloomberg showed the market pricing in about a 62% chance of a rate hike at -
After three years of Herbalife, Bill Ackman still doesn't get Carl Icahn
Bill Ackman is that guy at a basketball game who keeps chanting after everyone else has stopped.
Ackman is crowing over the fact that his nemesis, Carl Icahn, almost sold part of Icahn Enterprise's 18% stake in Herbalife to a consortium of buyers including himself, as revealed by The Wall Street Journal.
His exuberance shows he's missing a very important, but simple, point: For everyone but Ackman, the long, national nightmare that was his Herbalife crusade is over.
It's especially over for Icah -
There’s another tech IPO in the pipeline, and it’s coming out of Seattle
Seattle-area startup Apptio, which helps IT departments manage the software and services that they buy, has filed to go public.
You can read Apptio's full S-1 filing with the SEC here.
Apptio's S-1 filing reveals that the company posted $129.3 million in revenue in 2015, with strong 21% growth from 2014. 82% of Apptio's revenue comes from subscriptions to its service, a good sign that it's keeping customers around.
However, Apptio also posted a $41 million loss. And, per the same filing, Ap -
Here are the most popular New York City neighborhoods for new graduates
New York City is the greatest city in the world, and it draws people looking to find their fortune from just about everywhere.
Next Step Realty, a New York City real estate brokerage that matches recent graduates and young professionals with luxury apartments, shared data with Business Insider on over 1,000 2016 graduates and the neighborhoods they moved to from May through July of this year.
Next Step CEO and co-founder Blair Brandt told Business Insider that "the Upper East Side is officially -
Virtual assistants like Siri and Alexa look poised to explode
Everyone’s going in on virtual assistants. Apple has Siri, Microsoft has Cortana, Google has Google Assistant, Amazon has Alexa, and there’s a whole bunch of chatbots and competitors in between. There are still plenty of rough edges to each, but the field has steadily grown, both in terms of overall user experience and the amount of support they’ve been given.
According to this chart from Statista, they aren’t about to slow down. Citing recent data from market intelligenc -
WhatsApp founder Jan Koum has sold more than $2.5 billion of Facebook stock this year (FB)
WhatsApp cofounder Jan Koum, who sold his company to Facebook in 2014, has been unloading Facebook stock at a steady clip under a prescheduled trading plan, with new sales several times a month, since February 2016.
So Business Insider asked Equilar, a company that specializes in analyzing executive compensation and corporate data, to help us examine all the Securities and Exchange Commission filings related to Koum's sales for 2016.
It turns out he's sold more than 22 million shares worth rough -
There might not be enough iPhone 7 units at launch (AAPL)
The iPhone 7 is coming out next month. But it might be difficult to buy one immediately after it comes out.
Apple is facing a supply shortage of its still unreleased device, Nikkei reported on Friday. The problem is certain components are proving trickier to make than expected.
In particular, Apple's suppliers are having trouble making enough of the double-camera module expected to be used on the larger 5.5-inch iPhone and a new waterproof speaker part used on both models. -
Tesla still doesn't get enough credit for how incredible the Model S is (tsla)
Tesla's famous Ludicrous Mode — o to 60 mph acceleration in 2.8 seconds, for a properly configured vehicle — just got an upgrade. Tesla announced this week that its new 100-kilowatt-hour battery pack will enable the P90D sedan to make the 0 to 60 mph run in 2.8 seconds.
Ludicrous Mode improved on Insane Mode, which was created for the high-performance P85D all-wheel-drive, twin-motor version of the car last October. The new Model S P100D now improves on Ludicrous Mode. Call it Ludicr -
The oil rig count did not rise for the first time in 9 weeks (USO, WTI, OIL, VDE, BHI)
The US oil rig count did not rise for the first time in nine weeks this week, according to driller Baker Hughes.
Producers put 10 rigs back online last week, taking the total to 406, where it remained this week.
This week, the gas rig count fell by 2 to 81, dropping the total by the same number to 489.
Over the last few weeks, the tally rose as crude oil prices rallied out of a bear market. Also, the largest oilfield services companies signaled that they anticipated a turnaround in the oil -
Gap and Abercrombie are trapped in retail's nightmarish cycle
Gap and Abercrombie & Fitch are trapped in a vicious cycle.
The brands can't stop resorting to one of retail's worst trends: rampant discounts.
A new report from Credit Suisse highlights this problem.
"The Gap and Abercrombie had the highest levels of discounting in our pricing check, as it appears both companies continue to rely on heavy promotional activity to drive consumer demand," the analysts write.
"Gap's out-the-door price was 31% lower than the full price, and Abercro -
These are the personality tests you take to get a job at the world's largest hedge fund
Bridgewater Associates, with $150 billion in assets under management, is not only the world's biggest hedge fund.
It's also a highly ambitious, 1,700-person management experiment. And to get a job there, you have to undergo an intensive examination of your psyche.
Ray Dalio founded Bridgewater in 1975 out of his apartment, and throughout the '80s he laid the foundation of a corporate culture based on "radical transparency." This culminated in "Principles," his manifesto of 210 management insigh -
Amazon claims another victim as Rackspace finally goes private in a $4.3 billion deal (RAX)
After years of rumors that Rackspace was looking to sell itself or go private, on Friday the company finally announced a deal. Private-equity firm Apollo Global will pay $32 in cash per share, or $4.3 billion, to acquire Rackspace, it said in a statement on Friday.
That's a 38% premium to Rackspace's closing price on August 3, and 6% above the stock's closing price on Thursday.
This exit from the public market can be laid squarely at the feet of Amazon Web Services.
Amazon and Rackspace used to -
Inside the legal case everyone on Wall Street is talking about
It is not uncommon for an investment banker to jump from one Wall Street firm to another.
It is less common for five of them — from the same team — to do it at the same time for the same rival. That's what happened at Credit Suisse's San Francisco-based technology team in May.
The bank's response, though, was also just as unlikely: In early June, just days after the bankers gave their resignation, the bank went to court asking for a forensic search of their electronics and for a jud -
Are brands over-investing in digital?
From a distance the digital ad sector looks to be in rude health. In the UK, internet ad spend was up by 17.3% last year, outperforming the overall market which saw increases of 7.5%, according to the Advertising Association and Warc’s annual expenditure report.
Many brands are bullish on the opportunities. Pete Jeavons, head of brand marketing at EE, believes that if brands “are brave” and happy to work collaboratively with people like vloggers then digital can do a &ldqu -
Brands are failing to represent LGBT people in mainstream marketing campaigns
Lloyds Bank featured a same sex proposal in its brand campaign earlier this yearWhile brands are getting better at promoting cultural, age and gender diversity in marketing and advertising, there is still a lack of representation for the LGBT community, according to Joey Hambidge, client account manager at LGBT organisation Stonewall, who claims it is “noticeably lower”.
“While campaigns around Pride season are encouraging and to be applauded, consistent year-round communicatio -
Coca-Cola hires new GB marketing boss as Bobby Brittain departs
Coca-Cola’s GB marketing boss Bobby Brittain has left the company after more than 12 years in a variety of roles across the brand.
He will be replaced by Aedamar Howlett, another Coca-Cola veteran who joined its bottler in Ireland – Coca-Cola Hellenic – before moving to the The Coca-Cola Company in 2001. She has worked across a range of marketing and commercial roles in the business in Ireland, latterly as country manager for Ireland. She also took time out from her role a -
L’Oréal targets men for the first time as it evolves strapline to embrace diversity
L’Oréal is featuring a man in a cosmetics ad for the first time as it focuses on a new tagline which aims to ‘celebrate diversity’. The campaign includes celebrities Cheryl Fernandez-Versini, Katie Piper and a list of influencers and bloggers. L’Oréal’s first male blogger and makeup artist Gary, aka ‘The Plastic Boy’, has been chosen to reflect the fact that more men are wearing makeup.
Speaking to Marketing Week, Adrien Koskas, General Ma -
ZMedia Soloutions: Event / Exhibition Director (Fluent French Speaking)
Up to £55k + Comms:ZMedia Soloutions:
Want to work for a highly successful media company? • Averaging over 40% growth each year for the last six years (compared to an average of c.8%...
London (Central), London (Greater) -
Twist Recruitment: Freelance Copywriter
£250 - £300 per day:Twist Recruitment:
Exciting opportunity for a freelance copywriter At top brand and design agencyI am working with one of the top brand and design agencies in London. They produce award winning work for some of the biggest brands in the world. Their clients range from drink
London -
Salt: Community Manager - Gatwick
£0.00 - £220.00 per day + DOE:Salt:
My client a global FMCG manufacturer requires an experienced Community Manager to deliver a big consumer engagement project across some of their iconic brands.
West Sussex, Gatwick -
Gabriele Skelton: Senior Account Manager for integrated and comms agency
£45000 per annum:Gabriele Skelton:
This integrated branding and communications agency are now looking for an exceptional team player, who thrives when managing a variety of print and digital projects, to join their London team as Senior Account Manager.
London -
EMR | Specialist Marketing Recruitment: Head of Advertising/Production (Leisure/Retail)
£50000 - £60000 per annum:EMR | Specialist Marketing Recruitment:
My client, one of the world's leading leisure chains, is looking for an advertising/design/production manager to head up their internal design studio. The ideal candidate will come from a prominent consumer business with experience overseeing designers, a
London -
Carter Recruitment: Web Analyst
Circa £35k basic plus bonus:Carter Recruitment:
Exciting Web Analyst opportunity to play a central role within this UK brand's overarching strategy
Hertfordshire -
Carter Recruitment: Marketing Assistant
Up to £25,000:Carter Recruitment:
Fantastic opportunity to start your marketing career within a notable hospitality brand!
Hertfordshire -
Brand Recruitment: SEO and PPC Specialist (Guru, Wizard, Techno-data Master)
£25000 per annum + good benefits:Brand Recruitment:
BDP8067 - SEO and PPC Specialist (Guru, Wizard, Techno-data Master) - PeterboroughA fast growing start up with 'a million and one' clients offering them work.
Peterborough, Cambridgeshire -
Birmingham City University: B2B Digital Marketing Officer
£28,031 to £30,468 per annum:Birmingham City University:
The B2B Digital Content Marketing Officer will take responsibility for the creation and implementation of the B2B content plan...
Birmingham, West Midlands -
Beyond The Book: Paid Search Specialist
£30000.00 - £35000.00 per annum:Beyond The Book:
If you're a career driven PPC/Paid Search Specialist looking to really take the lead on PPC activities at both strategy and campaign level, then this could be the role for you.
West Midlands, Coventry -
Barker Graves: *FREELANCE AM, SAM AND ADs!!*
Varied day rates:Barker Graves:
We have a great range of exciting freelance briefs from a variety of integrated London agencies who are looking for first rate Account Managers, Se...
London (Central), London (Greater) -
ADLIB: Head of Project Management Creative and Digital Environment
to £50k + benefits:ADLIB:
This is a lovely opportunity for a head of project management to join a well-established and well regarded marketing agency based in Gloucestershire. What youll...
Gloucestershire -
Adam Recruitment: Digital Marketing Consultant/Strategist - Integrated Agency
£40000.00 - £55000.00 per annum + Excellent benefits:Adam Recruitment:
With a growing client roster and recent investment, this agency is looking to bring in a first class Digital Marketing Consultant/Strategist who can step up and lead the marketing division at ops board level.I'm keen to speak to people who have expertis
Greater Manchester, Manchester -
Vice CEO warns of media 'bloodbath'
EDINBURGH: The media industry can expect a "bloodbath" of consolidation next year as the last remaining major players build scale and some digital companies struggle through lack of money, the CEO and co-founder of Vice Media has predicted.Shane... -
US ad market heads for record year
LONDON/NEW YORK: The value of the US advertising market is expected to grow at its fastest rate since 2010 this year, with adspend set to rise 5.8% to a record-high of $178bn, according to new research from Warc. -
Tech brands must know India better
NEW DELHI/SINGAPORE: Western tech brands must work harder to understand the local quirks of the Indian market or lose significant market share to strong local, Chinese and Korean brands, according to a leading consumer strategist.Kunal Sinha, a... -
New research examines brand health
NEW YORK: Healthy brands are best defined in terms of experiencing "year-on-year growth in brand sales over the long term", according to a new study published in the Journal of Advertising Research (JAR).That conclusion is grounded in analysis... -
Mobile experience determines loyalty
STOCKHOLM: Traditional measures to gauge loyalty among smartphone users, such as Net Promoter Scores (NPS), have failed to keep up with changes to consumer behaviour, a new report has found.Ericsson ConsumerLab said NPS no longer accurately... -
Facebook will access WhatsApp data
SAN FRANCISCO: WhatsApp, the instant messaging app acquired by Facebook in 2014 that has always had a strict policy about data privacy, has now announced that it will share user information with its parent company.In addition, for the first time,... -
Don't rely on data alone, say brands
SINGAPORE: Marketers now have an abundance of consumer data at their disposal as well as the digital means to reach them, but for some leading brands a more customer-centric approach is the best strategy to meet their business needs.Speaking at... -
Malibu brings the Internet of Things to FMCG as it turns bottles into digital touchpoints
Malibu is using the same technology used for contactless payments to create 40,000 ‘connected’ bottles, allowing users with Android phones and the latest iPhone 6/6s to access exclusive content, including prize draws, drinks recipes and playlists, as well as a bar locator.
The activity, which rolls out at the beginning of September, is part of its #BecauseSummer campaign. It has been developed through a partnership between Malibu and creative agency SharpEnd and follows work undertak
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