May 21, 2024 5:03 AM
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dailydozen@email.forbes.com
A Cheaper Ozempic?
Discussion of Temu and Shein's impact on air cargo industry due to high demand for fast shipping and other current business, financial, and world news.
Plus: You’re Buying So Much From Temu And Shein The Air Cargo Industry Can’t Keep Up ADVERTISEMENT BECOME A MEMBER • Newsletters • MyForbes Good morning, It turns out endless shrimp might not be the best business move. Red Lobster said it filed
May 21, 2024 5:03 AM
-
dailydozen@email.forbes.com
A Cheaper Ozempic?
Discussion of Temu and Shein's impact on air cargo industry due to high demand for fast shipping and other current business, financial, and world news.
Plus: You’re Buying So Much From Temu And Shein The Air Cargo Industry Can’t Keep Up ADVERTISEMENT BECOME A MEMBER • Newsletters • MyForbes Good morning, It turns out endless shrimp might not be the best business move. Red Lobster said it filed
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Its sales have largely stalled for the last decade, and Red Lobster’s current owner decided to sell the chain due to “industry headwinds” and “rising labor and material costs.” </p><p>But it’s not just overall restaurant industry woes that led to Red Lobster’s struggles. In the hopes of boosting foot traffic, the company made its all-you-can-eat “Ultimate Endless Shrimp” deal permanent, a promotion the company blames for a more than $11 million operating loss in the third quarter of last year.<br><br>Let’s get into the headlines,</p></td></tr></tbody></table></td></tr></tbody></table></div><div><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" style="width:100%; max-width:600px; background:#ffffff"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" valign="top"><p style="color:#333333; margin:0; padding:0; font-size:14px; font-family:Work Sans,Arial,Helvetica,Sans Serif; line-height:22px; letter-spacing:-0.2px"><strong>Danielle Chemtob </strong><a href="#" style="text-decoration:none"><span style="color:#737373; font-size:14px; font-family:Work Sans,Arial,Helvetica,Sans Serif; line-height:22px; letter-spacing:-0.2px">Staff Writer, Newsletters</span></a></p><p style="color:#737373; margin:0; padding:0; font-size:12px; font-family:Work Sans,Arial,Helvetica,Sans Serif; line-height:22px; letter-spacing:-0.2px">Follow me on <a href="#" style="color:#c41a23"><span style="color:#737373">Forbes.com</span></a></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table class="mobile" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>FIRST UP</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table width="100%" border="0" align="center" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td style="padding-bottom:13px"><table class="mobile-padding" align="center" valign="top" width="100%" border="0" cellspacing="0" cellpadding="0" style="max-width:504px"><tbody><tr><td align="center" valign="top"><a href="#" style="text-decoration:none"><img width="100%" src="https://specials-images.forbesimg.com/imageserve/664bc5f1c8265db2a0c6de2d/In-this-photo-illustration--a-phone-displays-the-logo-for-Hims---Hers-Health-/960x0.jpg?cropX1=0&cropX2=3035&cropY1=156&cropY2=1862" style="width:100%; display:block; max-width:504px"></a></td></tr><tr><td align="left" valign="top" style="padding:8px 0 0 0; color:#737373; font-family:Work Sans bold,Arial,sans-serif; font-size:12px; line-height:16px; letter-spacing:0.2px"><span style="text-transform:uppercase; color:#737373; font-size:10px">SOPA IMAGES/LIGHTROCKET VIA GETTY IMAGES</span></td></tr></tbody></table></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>Shares of telehealth company </span><a href="#">Hims & Hers Health closed at a three-year high Monday</a><span> after the company </span><strong data-crdl-plugin="bold">announced a weight-loss treatment starting at $199 a month</strong><span> that uses the same active ingredient as Ozempic and Wegovy. Hims, known for providing cheap and generic alternatives to popular brand-name drugs, is entering the weight-loss market amid a shortage of the class of drugs, known as GLP-1s.</span><br><br>As inflation weighs on consumers’ wallets, Target is planning to <a href="#">reduce prices on about 5,000 “frequently shopped items”</a> heading into the summer, as the <strong data-crdl-plugin="bold">big-box retailer hopes to boost demand for essential products </strong>and turn around last year’s sales slowdown. The products include everyday items such as milk, meat, bread, diapers and paper towels, but Target lost $1 billion in Monday’s early trading session after shares dipped 1.3% following the announcement.<p></p><p></p></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>BUSINESS + FINANCE</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>FDIC chairman Martin Gruenberg said Monday that </span><a href="#">he is “prepared to step down”</a><span> from his role, following an outside investigation that found the FDIC had a culture allowing for </span><strong data-crdl-plugin="bold">“sexual harassment, discrimination and other interpersonal misconduct.”</strong><span> Gruenberg says he will continue to serve as chairman until a successor is named, and while it is unclear exactly when that could happen, White House deputy press secretary Sam Michel said Monday that President Joe Biden will “soon put forward a new nominee.” </span><br><br>Federal bank regulators are <a href="#">not coming to rescue the thousands of fintech customers</a> who have<strong data-crdl-plugin="bold"> lost access to their money during the unfolding bankruptcy</strong> of banking-as-a-service provider Synapse Financial Technologies—or the millions more who are at risk. The cause of the pain is a dispute between Synapse and one of its bank partners, which has left customers of fintechs Yotta Technologies, Juno Finance and Copper Banking unable to access the money in their accounts or use the credit and debit cards tied to them since May 11.<br><br><span>The price of Ether, the cryptocurrency with the second biggest market cap after Bitcoin, saw a massive spike late Monday, </span><a href="#">boosting the price of other major crypto tokens</a><span> as moves by the SEC raised </span><strong data-crdl-plugin="bold">speculation that Ether exchange-traded funds</strong><span> may be in line for regulatory approval soon. Bloomberg analysts James Seyffart and Eric Balchunas raised their odds of a spot Ether ETF approval to 75% on Monday—up from an earlier 25%. </span></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>WEALTH + ENTREPRENEURSHIP</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table width="100%" border="0" align="center" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td style="padding-bottom:13px"><table class="mobile-padding" align="center" valign="top" width="100%" border="0" cellspacing="0" cellpadding="0" style="max-width:504px"><tbody><tr><td align="center" valign="top"><a href="#" style="text-decoration:none"><img width="100%" src="https://specials-images.forbesimg.com/imageserve/664bc7a10dd5fad3f8e60616/16x9-Sanjiv-Lamba-by-Guerin-Blask-for-Forbes/960x0.jpg?cropX1=0&cropX2=1920&cropY1=0&cropY2=1080" style="width:100%; display:block; max-width:504px"></a></td></tr><tr><td align="left" valign="top" style="padding:8px 0 0 0; color:#737373; font-family:Work Sans bold,Arial,sans-serif; font-size:12px; line-height:16px; letter-spacing:0.2px"><a href="#" style="text-decoration:none"><span style="color:#737373">Sanjiv Lamba at Linde's Connecticut office. </span><span style="text-transform:uppercase; color:#737373; font-size:10px">GUERIN BLASK FOR FORBES</span></a></td></tr></tbody></table></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>Sanjiv Lamba, CEO of industrial gas producer Linde, </span><a href="#">serves both environmentalists and investors</a><span>: The 145-year-old company furnishes industrial gasses to the world’s smokestacks and</span><strong data-crdl-plugin="bold"> spews 38 million tons a year of carbon dioxide</strong><span> into the atmosphere. But Lamba says Linde is going to get its own operations down to net zero carbon (eventually), and plans to put $2 billion into a Beaumont, Texas hydrogen plant that will stick the resulting CO2 in the ground.</span></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>TECH + INNOVATION</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>Prosecutors allege that North Korea-linked IT workers have </span><a href="#">infiltrated and defrauded more than 300 U.S. companies</a><span>, including many well-known large companies, calling it the largest scheme of this type ever charged. According to unsealed court documents, North Korea sent thousands of skilled IT workers around the world with </span><strong data-crdl-plugin="bold">stolen or borrowed identities to infiltrate U.S. companies’ networks</strong><span>,</span><strong data-crdl-plugin="bold"> </strong><span>and raise money to contribute to the North Korean weapons program in violation of U.S. and UN sanctions.</span></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>MONEY + POLITICS</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif">Former President Donald Trump’s business <a href="#">relied on more temporary foreign workers</a> in 2023 than in any other recent year, according to an analysis of records from the Department of Labor that date back to 2008,<strong data-crdl-plugin="bold"> despite Trump’s hard-line stance on immigration</strong>. Mar-a-Lago, two golf clubs and Trump Winery in Virginia sought to hire a combined 170 foreign workers last year, the records show.<p>Ex-Trump attorney Michael Cohen admitted during a fiery cross-examination in Donald Trump’s criminal <a href="#">trial that he “stole” $30,000 from the Trump Organization</a> after he was given funds to pay a tech firm. Trump’s defense attorneys are hoping the admission will harm his credibility before the jury, as Cohen is a key witness, but <strong data-crdl-plugin="bold">Cohen likely will not face charges</strong>, multiple New York criminal defense attorneys told <em data-crdl-plugin="italic">Forbes</em>.</p></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>SPORTS + ENTERTAINMENT</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table width="100%" border="0" align="center" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td style="padding-bottom:13px"><table class="mobile-padding" align="center" valign="top" width="100%" border="0" cellspacing="0" cellpadding="0" style="max-width:504px"><tbody><tr><td align="center" valign="top"><a href="#" style="text-decoration:none"><img width="100%" src="https://imageio.forbes.com/specials-images/imageserve/664bdd8c05e4af1076b1cd6d/TODAY---Season-72/0x0.jpg?format=jpg&crop=3000,2000,x0,y0,safe&width=1440" style="width:100%; display:block; max-width:504px"></a></td></tr><tr><td align="left" valign="top" style="padding:8px 0 0 0; color:#737373; font-family:Work Sans bold,Arial,sans-serif; font-size:12px; line-height:16px; letter-spacing:0.2px"><a href="#" style="text-decoration:none"><span style="color:#737373">OpenAI said Monday it was working to pause the ChatGPT voice. </span><span style="text-transform:uppercase; color:#737373; font-size:10px">NATHAN CONGLETON/NBC VIA GETTY IMAGES</span></a></td></tr></tbody></table></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>Actress </span><a href="#">Scarlett Johansson said in a letter Monday</a><span> she was “shocked” and “angered” over a chatbot voice created by OpenAI that sounded similar to her own. </span><strong data-crdl-plugin="bold">Johansson said she was “forced to hire legal counsel,”</strong><span> and on Monday </span><a href="#">OpenAI said it was working to pause</a><span> the voice. “Sky” is one of the five voices OpenAI debuted as part of its latest AI model, GPT-4o, which powers the company’s hallmark product ChatGPT, but the voice drew widespread attention for its striking similarity to Johansson’s.</span><br><br>Saudi Arabia is <a href="#">set to sponsor the Women’s Tennis Association’s rankings</a> for the next five years, the third major tennis deal to be struck in the Kingdom this year, as the country <strong data-crdl-plugin="bold">continues its high-dollar push into the world of sports</strong>.<strong data-crdl-plugin="bold"> </strong>Saudi Arabia’s national sovereign wealth fund became the naming-rights partner for the WTA on Monday, one month after the association announced its championship series would be held in Riyadh for the next three years.</td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>WORLD</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>The </span><a href="#">International Criminal Court on Monday sought arrest warrants</a><span> against Hamas chief Yahya Sinwar and Israeli Prime Minister Benjamin Netanyahu </span><strong data-crdl-plugin="bold">on war crimes charges</strong><span>, the international court’s prosecutor told CNN, defying U.S. warnings that warrants against Israeli officials would derail the peace process. </span><a href="#">President Joe Biden said</a><span> the ICC’s requests for arrest warrants against Netanyahu and Israeli defense minister Yoav Gallant were “outrageous,” and that </span><strong data-crdl-plugin="bold">“there is no equivalence—none—between Israel and Hamas.”</strong></td></tr></tbody></table></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" valign="top" style="padding-top:14px; padding-bottom:0px"><div><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:552px; border:1px solid #e3e3e3; border-bottom:0"><tbody><tr><td align="center" valign="top"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" bgcolor="#FEF7F7" style="width:100%; max-width:552px; background:#FEF7F7!important"><tbody><tr><td align="center" valign="top"><table align="center" valign="top" width="100%" style="max-width:504px; padding-bottom:5px; padding-top:18px"><tbody><tr><td align="left" valign="top"><a href="#" style="display:block; text-decoration:none; color:#DC0000"><strong style="border-style:none; border:0; text-transform:uppercase; font-size:22px; font-family:Work Sans bold,Arial,Helvetica,sans-serif; font-weight:bold; line-height:32px; letter-spacing:0.2px; color:#DC0000!important">DAILY COVER STORY</strong></a></td></tr></tbody></table></td></tr><tr><td align="center" valign="top"><table align="center" valign="top" width="100%" border="0" cellspacing="0" cellpadding="0" style="max-width:504px"><tbody><tr><td align="center" valign="top"><a href="#" style="text-decoration:none"><img width="100%" src="https://images.cordial.com/869/1920x1080/16x9-air-Freight-illustration-by-yunjia-yuan-for-forbes-photo-by-AlexLMX-getty-images.jpg" style="width:100%; display:block; max-width:504px"></a></td></tr><tr><td align="left" valign="top" style="padding:8px 0 0 0; color:#737373; font-family:Work Sans bold,Arial,sans-serif; font-size:12px; line-height:16px; letter-spacing:0.2px"><a href="#" style="display:block; text-decoration:none; color:#737373"><span style="text-decoration:none; color:#737373!important"></span> <span style="text-decoration:none; text-transform:uppercase; font-size:10px">ILLUSTRATION BY YUNJIA YUAN FOR FORBES; PHOTO BY ALEXLMX-GETTY IMAGES</span></a></td></tr></tbody></table></td></tr><tr><td align="center" valign="top"><table align="center" valign="top" width="100%" style="max-width:504px; padding:8px 0"><tbody><tr><td align="left" valign="top"><strong style="border-style:none; border:0; text-align:left; text-decoration:none; font-size:20px; font-family:'Merriweather',Georgia,serif; font-weight:bold; line-height:32px; letter-spacing:0.2px; color:#333333!important">You’re Buying So Much From Temu And Shein The Air Cargo Industry Can’t Keep Up</strong></td></tr></tbody></table></td></tr><tr><td align="center" valign="top"><table align="center" valign="top" width="100%" style="max-width:504px; padding:8px 0"><tbody><tr><td align="left" valign="top"><table align="left" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:auto"><tbody><tr><td align="left" width="93" valign="top" style="border-bottom:2px solid #dc0000; white-space:nowrap"><a href="#" style="display:block; border-style:none!important; border:0!important; text-decoration:none; color:#ffffff"><strong style="display:block; border-style:none!important; border:0!important; text-decoration:none; font-size:16px; font-family:Work Sans,Arial,Helvetica,Sans Serif; font-weight:bold; line-height:1.5; letter-spacing:-0.2px; color:#333333; margin:0; padding:0">Read Article</strong></a></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></div></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-dcs-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%!important; max-width:600px"><tbody><tr><td align="center" valign="top"><table class="mobile-padding" width="100%" cellspacing="0" cellpadding="0" bgcolor="#FEF7F7" style="width:100%; max-width:552px; background:#FEF7F7!important; border:1px solid #e3e3e3; border-bottom:0; border-top:0"><tbody><tr><td class="mobile-padding" align="center" style="padding-top:20px; padding-bottom:10px"><div><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#000000; font-size:18px; line-height:22px; text-transform:uppercase"><strong>TOPLINE</strong></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-dcs-rich-text-editor"><table align="center" width="100%" bgcolor="#FFFFFF" border="0" cellspacing="0" cellpadding="0" data-crdl-linkappend-section="" style="width:100%; max-width:600px; padding-bottom:0px"><tbody><tr><td align="center" valign="top"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" bgcolor="#FEF7F7" style="width:100%; max-width:552px; background:#FEF7F7!important; border:1px solid #E3E3E3; border-bottom:0; border-top:0"><tbody><tr><td class="mobile-padding" align="center" style="padding-top:8px; padding-bottom:10px"><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:24px; font-family:Georgia,serif">Seemingly overnight, Chinese e-commerce site Temu, along with its fast-growing competitor Shein, became so popular with American consumers that it spiked prices for fast shipping by airplane from China, <strong data-crdl-plugin="bold">creating a cargo crunch that’s altering global trade routes.</strong><p>Temu, which largely sells clothing and housewares, and Shein, which built its brand on fast-fashion and has since expanded to consumer electronics and kitchen items, are unlike other retailers in that they sell items made directly by no-name Chinese companies, rather than selling an American brand that is made overseas. Part of their low cost has come from their decision to ship directly from China from those manufacturers, rather than working with well-known American brands that impose greater costs, prices and quality.</p><p>But to get customers’ their products in a reasonable amount of time, both companies have been relying heavily on air freight. Temu and Shein combined ship around 9,000 tons of cargo worldwide every day, or approximately 88 Boeing 777 freighters filled to the brim, according to February research from Cargo Facts Consulting. </p><p>That’s <strong data-crdl-plugin="bold">driven up prices to near-unprecedented levels</strong>. According to the latest figures from Xeneta, so far, the May air cargo “average spot rate” from southern China to the U.S. is now at about $4.75 per kilogram, the highest it’s been since the end of last year, rivaling what’s typically peak demand in the run-up to the holiday season. That’s more than double than during the same period in 2019.</p><p>Sending cargo by air is always considerably faster and more expensive than shipping by sea, which can carry a much larger volume of goods, albeit at a slower pace. </p><p>For now, Shein and Temu provide free shipping for orders over a certain size, seemingly willing to absorb the higher costs as a shortcut to accelerated growth in the U.S. But that could change over the medium to longer-term <strong data-crdl-plugin="bold">as the companies look for ways to cut costs </strong>now that they’re both established e-commerce platforms.</p></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-dcs-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" valign="top"><table class="mobile-padding" width="100%" cellspacing="0" cellpadding="0" bgcolor="#FEF7F7" style="width:100%; max-width:552px; background:#FEF7F7!important; border:1px solid #e3e3e3; border-bottom:0; border-top:0"><tbody><tr><td class="mobile-padding" align="center" style="padding-top:20px; padding-bottom:10px"><div><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#000000; font-size:18px; line-height:22px; text-transform:uppercase"><strong>WHY IT MATTERS</strong></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-dcs-rich-text-editor"><table align="center" width="100%" bgcolor="#FFFFFF" border="0" cellspacing="0" cellpadding="0" data-crdl-linkappend-section="" style="width:100%; max-width:600px; padding-bottom:0px"><tbody><tr><td align="center" valign="top"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" bgcolor="#FEF7F7" style="width:100%; max-width:552px; background:#FEF7F7!important; border:1px solid #E3E3E3; border-bottom:0; border-top:0"><tbody><tr><td class="mobile-padding" align="center" style="padding-top:8px; padding-bottom:10px"><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:24px; font-family:Georgia,serif"><span>“Shein and Temu’s growth is predicated on fast and relatively expensive air freight,” says </span><em data-crdl-plugin="italic">Forbes </em><span>senior writer Cyrus Farivar. “Their rapid rise is so huge that they have had a material effect on China-U.S. rates, which</span><strong data-crdl-plugin="bold"> illustrates the size of their economic power</strong><span>.</span><strong data-crdl-plugin="bold"> </strong><span>For now, these companies are willing to absorb that high cost, but it may be unsustainable over the long term.”</span></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-dcs-headline"><table align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" valign="top"><table class="mobile-padding" width="100%" cellspacing="0" cellpadding="0" bgcolor="#FEF7F7" style="width:100%; max-width:552px; background:#FEF7F7!important; border:1px solid #e3e3e3; border-bottom:0; border-top:0"><tbody><tr><td class="mobile-padding" align="center" style="padding-top:20px; padding-bottom:10px"><div><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#000000; font-size:18px; line-height:22px; text-transform:uppercase"><strong>MORE</strong></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#FFFFFF" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px; padding-bottom:25px"><tbody><tr><td align="center" valign="top"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" bgcolor="#FEF7F7" style="width:100%; max-width:552px; background:#FEF7F7!important; border:1px solid #E3E3E3; border-top:0"><tbody><tr><td class="mobile-padding" align="center" style="padding-top:8px; padding-bottom:20px"><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:24px; font-family:Georgia,serif"><a href="#">Chinese Shopping App Temu Censors Searches For ‘Trump’ And ‘Biden’</a></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></div><div><table align="center" width="100%" cellspacing="0" cellpadding="0" class="p100" style="background:#ffffff; width:100%; max-width:600px; border-top:1px solid #555555; border-bottom:1px solid #555555"><tbody><tr><td align="center" valign="top" style="height:9px; padding-top:15px"><p style="font-family:Arial,Helvetica,Sans Serif; color:#999999; font-size:10px; line-height:15px; text-align:center">ADVERTISEMENT</p></td></tr><tr><td align="center" style="width:600px; padding-bottom:15px"><table cellpadding="0" cellspacing="0"><tbody><tr><td colspan="2"><a href="#"><img width="600" src="https://sli.forbes.com/imp?s=720597&li=1716292984&m=f9098a58a245b1342cab9e566221a261&p=869:664bb1bd1f216030690c0656:ot" style="width:100%; max-width:600px"></a></td></tr><tr><td align="left"><a href="#"><img src="https://sli.forbes.com/imp?s=720598&li=1716292984&m=f9098a58a245b1342cab9e566221a261&p=869:664bb1bd1f216030690c0656:ot"></a></td><td align="right"><a href="#"><img src="https://sli.forbes.com/imp?s=720600&li=1716292984&m=f9098a58a245b1342cab9e566221a261&p=869:664bb1bd1f216030690c0656:ot"></a></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table class="mobile" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>FACTS + COMMENTS</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:10px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>Memorial Day marks the unofficial start of summer, but some of the </span><a href="#">key ingredients for a barbecue are continuing to burn a hole</a><span> in Americans’ wallets. A few</span><strong data-crdl-plugin="bold"> summer staples are driving inflation</strong><span>, which is still above the historical average despite moderating:</span></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-facts-and-comments"><table width="100%" align="center" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center"><div><table width="100%" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="center"><p style="font-family:'Merriweather',Georgia,serif; margin:0; line-height:28px; font-size:20px; text-align:center; color:#DC0000; padding-top:16px">7%</p></td></tr><tr><td align="center"><p style="max-width:344px; margin:0; color:#333333; line-height:16px; font-size:12px; font-family:Work Sans,Arial,Sans Serif; padding-bottom:16px"><span>The increase in steak prices from a year ago</span></p></td></tr><tr><td align="center"><table align="center" cellpadding="0" cellspacing="0" width="40"><tbody><tr><td width="40" style="height:1px; border-bottom:1px #333333 solid; font-size:0; line-height:0; width:40px"> </td></tr></tbody></table></td></tr></tbody></table></div></td></tr><tr><td align="center"><div><table width="100%" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="center"><p style="font-family:'Merriweather',Georgia,serif; margin:0; line-height:28px; font-size:20px; text-align:center; color:#DC0000; padding-top:16px">10%</p></td></tr><tr><td align="center"><p style="max-width:344px; margin:0; color:#333333; line-height:16px; font-size:12px; font-family:Work Sans,Arial,Sans Serif; padding-bottom:16px"><span>How much more beer costs compared to this time last year</span></p></td></tr><tr><td align="center"><table align="center" cellpadding="0" cellspacing="0" width="40"><tbody><tr><td width="40" style="height:1px; border-bottom:1px #333333 solid; font-size:0; line-height:0; width:40px"> </td></tr></tbody></table></td></tr></tbody></table></div></td></tr><tr><td align="center"><div><table width="100%" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="center"><p style="font-family:'Merriweather',Georgia,serif; margin:0; line-height:28px; font-size:20px; text-align:center; color:#DC0000; padding-top:16px">Spring 2021</p></td></tr><tr><td align="center"><p style="max-width:344px; margin:0; color:#333333; line-height:16px; font-size:12px; font-family:Work Sans,Arial,Sans Serif; padding-bottom:16px"><span>The start of the current bout of inflation, the most painful stretch of price increases since the Carter Administration</span></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-headline"><table class="mobile" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:20px; padding-bottom:10px"><div><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-family:Work Sans bold,Arial,Helvetica,sans-serif; color:#333333; font-size:18px; line-height:22px; text-transform:uppercase"><strong>STRATEGY + SUCCESS</strong></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table align="center" width="100%" bgcolor="#ffffff" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:600px"><tbody><tr><td align="center" style="padding-top:10px; padding-bottom:20px"><table class="mobile-padding" width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" style="font-size:16px; line-height:1.5; font-family:Georgia,serif"><span>When it comes to many major purchases in life, like a car or a home, we </span><strong data-crdl-plugin="bold">often have a chance to test-drive or walk-through</strong><span> the investment beforehand. It’s </span><a href="#">key to take your dream retirement for a test drive, too</a><span>. Try living on what is likely to be your fixed retirement income, connect with people who share the same hobbies you plan to pursue, rent a home or travel to where you might want to live, or spend more time at home if you plan to age in place. </span></td></tr></tbody></table></td></tr></tbody></table></div><div data-crdl-tags="sculpt-block-daily-line-break"><table width="100%" border="0" align="center" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px; border-collapse:collapse"><tbody><tr><td align="center" valign="middle" width="600"><div><table width="100%" border="0" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px; border-collapse:collapse"><tbody><tr><td align="center" valign="top" width="504"><table border="0" cellspacing="0" cellpadding="0" width="100%" style="width:100%; max-width:504px; border-collapse:collapse"><tbody><tr><td valign="top" align="center" width="504"><table width="100%" border="0" align="center" cellpadding="0" cellspacing="0" style="border-collapse:collapse; border:0px"><tbody><tr><td width="100%" style="height:10px; border-bottom:1px #000000 solid; width:100%"></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></div></td></tr></tbody></table></div><div><table width="100%" align="center" cellpadding="0" cellspacing="0" bgcolor="#ffffff" style="width:100%; max-width:600px"><tbody><tr><td align="center" valign="middle" style="padding-top:15px; padding-bottom:15px"><div><table class="mobile-padding" width="100%" cellspacing="0" bgcolor="#FCFCFC" cellpadding="0" style="width:100%; max-width:552px; border:1px solid #E3E3E3"><tbody><tr><td align="center" valign="top"><table width="100%" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px"><tbody><tr><td align="left" valign="top" style="padding:16px 0"><strong style="border-style:none; border:0; text-transform:uppercase; font-size:22px; font-family:Work Sans bold,Arial,Helvetica,sans-serif; font-weight:bold; line-height:32px; letter-spacing:0.2px; color:#DC0000!important">GAMES</strong></td></tr><tr><td align="left" style="padding:8px 0 6px 0; font-size:18px; line-height:24px; letter-spacing:0.5px; font-family:Work Sans bold,Arial,Helvetica,sans-serif"><strong>QUIZ</strong></td></tr><tr><td align="left" style="font-size:16px; line-height:24px"><span>A Senate investigation found three automakers purchased parts from a banned Chinese supplier, amid a crackdown by officials on goods manufactured by forced labor in China. Which is </span><strong data-crdl-plugin="bold"><em data-crdl-plugin="italic">not</em></strong><strong data-crdl-plugin="bold"> one of the automakers</strong><span>?</span></td></tr><tr><td><table width="100%" cellspacing="0" cellpadding="0"><tbody><tr><td align="center" width="7%" style="font-size:12px; font-family:'Work Sans','Roboto'; font-weight:600; padding:16px 0">A.</td><td align="left" style="color:#333333; font-size:16px; line-height:24px; font-family:'Georgia',serif; padding:16px 0">BMW</td></tr><tr><td align="center" width="7%" style="font-size:12px; font-family:'Work Sans'; font-weight:600; padding-bottom:16px">B.</td><td align="left" style="color:#333333; font-size:16px; line-height:24px; font-family:'Georgia',serif; padding-bottom:16px">Volkswagen</td></tr><tr><td align="center" width="7%" style="font-size:12px; font-family:'Work Sans'; font-weight:600; padding-bottom:16px">C.</td><td align="left" style="color:#333333; font-size:16px; line-height:24px; font-family:'Georgia',serif; padding-bottom:16px">Ford</td></tr><tr><td align="center" width="7%" style="font-size:12px; font-family:'Work Sans'; font-weight:600; padding-bottom:16px">D.</td><td align="left" style="color:#333333; font-size:16px; line-height:24px; font-family:'Georgia',serif; padding-bottom:16px">Jaguar Land Rover</td></tr></tbody></table></td></tr><tr><td align="left"><table align="left" valign="top" width="100%" style="padding-top:10px; max-width:150px"><tbody><tr><td align="left" valign="top"><a href="#" style="display:block; text-decoration:none; color:#333333"><strong style="display:block; border-style:none; border:0; text-decoration:none; font-size:16px; font-family:Work Sans bold,Arial,Helvetica,sans-serif; font-weight:600; line-height:16px; letter-spacing:0.2px; color:#333333!important; white-space:nowrap; border-bottom:2px solid #dc0000">Check Your Answer</strong></a></td></tr></tbody></table></td></tr><tr><td align="center" valign="top" width="100%" class="mobile" style="max-width:504px; width:100%"><table width="100%" cellspacing="0" cellpadding="0" style="width:100%; max-width:504px; padding:24px 0"><tbody><tr><td align="left"><div align="left" class="mobile" style="display:inline-block; vertical-align:top; width:100%"><table align="left" width="100%" cellspacing="0" cellpadding="0" style="width:100%"><tbody><tr><td align="left" valign="top" style="color:#333333; font-size:18px; font-family:Work Sans bold,Arial,Helvetica,sans-serif; font-weight:600; line-height:24px; letter-spacing:0.2px; padding-bottom:24px; white-space:nowrap">FRASE BY FORBES</td></tr><tr><td align="center" valign="top" style="padding-bottom:24px; white-space:nowrap"><a href="#" style="text-decoration:none"><img width="100%" src="https://images.cordial.com/869/1104x400/Frase_Desktop_Primary_2.png" style="width:100%; display:block; max-width:504px"></a></td></tr><tr><td align="left" valign="top" style="color:#333333; font-size:16px; font-family:'Georgia',serif; font-weight:400; line-height:24px; letter-spacing:0.2px; padding-bottom:24px">Unscramble today’s anagram to solve this hidden phrase!<br><br>Stumped? 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