From burgers to gadgets, stressed consumers buy cheap

NEW YORK/LONDON, July 26 (Reuters) – Some global consumers are showing signs of cracking, as shoppers stressed by record inflation stick to buying basics like food, bleach and cheap burgers, while those with bigger bank accounts are snapping up $3,000 Louis Vuitton handbags.

Investors are closely watching second quarter corporate results for signs economies are headed toward a recession. But so far consumers are sending mixed signals. There is weakness seen in those that have been hit hardest by record fuel and food prices. Meanwhile, credit card and other data shows some are still spending on travel and other high-end pursuits. read more

Walmart (WMT.N) sounded a warning shot on Monday, issuing a rare profit warning. Its US customers, who tend to come from lower-income households, are buying food and other essentials while skipping aisles filled with clothes and sporting goods. read more

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“The results overnight indicate that the US consumer is now much more focused on the staples element of shopping where we’ve got double-digit food inflation coming through in some of these retailers,” said Nicola Morgan-Brownsell, fund manager at Legal & General Investment Management.

US consumer confidence fell for a third straight month in July amid persistent worries about higher inflation and rising interest rates. read more

Sales at luxury group LVMH Moet Hennessy Louis Vuitton SE (LVMH.PA) climbed 19% in the second quarter, slightly lower than earlier this year. Handbag and high-end liquor sales in Europe and the United States helped offset slowdowns stemming from COVID-19 lockdowns in China. read more

And payment processor Visa (VN) said cross-border volume jumped 40% reflecting a summer travel boom and some consumer resilience. read more

But softer consumer demand hits video gaming revenue at Xbox maker Microsoft (MSFT.O), which posted a 7% drop in Xbox-related revenue and expects a further contraction this quarter. Microchip maker Texas Instruments (TXN.O) saw weaker demand from consumers for personal electronics.

BUYING, BUT FOR HOW LONG?

Consumer giants Coca Cola Co (KO.N), McDonald’s Corp (MCD.N) and Unilever Plc (ULVR.L) all said on Tuesday that their products are still selling, even at higher prices.

Unilever, which has 400 brands including Hellmann’s mayonnaise, Knorr stock cubes and Domestos bleach, raised its full-year sales guidance after beating first-half underlying sales forecasts as it hiked prices. read more

So far consumers are buying, but there is a question around how long that can last.

“We see price increases when we go out to do a weekly shop. The question is: how much more accepting can the consumer be on those price increases?” said Ashish Sinha, portfolio manager at Unilever and Reckitt (RKT.L) shareholder Gabelli.

McDonald’s which operates nearly 40,000 restaurants, said its global same-store sales jumped almost 10%, much better than the expectation for an increase of 6.5%. read more

Even so, the Chicago-based company said it is considering whether to add more discounted menu options because soaring inflation, particularly in Europe, is leading some lower-income consumers to “trade-down” to

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Graphic Design Digital Media Instructor (Temporary Contract) 2022-2023

Deadline: 7/8/2022 11:59 PM Pacific

Full job description and OFFICIAL application available ONLY here.

PLEASE NOTE: Interviews are anticipated for this position in mid to late July; a brief teaching demonstration will be required during the interview.

Starting Salary Range: $60,189 to $92,390 per year, salary placement determined by documented education and experience; maximum initial salary step placement on the faculty salary schedule is step 9. An annual doctoral stipend of $4,018 is granted to eligible faculty.

BENEFITS
Excellent benefits, including quality health insurance at a low cost for you and your family! Our comprehensive benefits package includes medical, dental, life, short and long term, and vision (optional) insurance provided at a share of cost on a pretax basis, CalSTRS Retirement and an Employee Assistance Program. Depending on health plan selections, in many cases full-time employee net out-of-pocket for benefit premiums may be as low as $0. Please see the Benefits link on the HR webpage for more information.

Description: This full-time, temporary contract instructor for the 2022-2023 Academic Year pursuant to Ed Code 87481/82 will enjoy a 175-Day work schedule. The position begins on Monday, August 22, 2022 pending Governing Board ratification. Classes may be in a traditional “in class” setting, online, or hybrid format scheduled over summer and/or winter months, and at various campus locations including days, evenings, and/or weekends.

We are seeking a graphic design generalist with a broad knowledge of print, web, and interface design who has the requisite skills to play a leadership role in the department and teach a broad range of courses within the candidate’s specific strengths and areas of interest, including but not limited to: web design, web development, interface design, graphic design and typography principles, digital imaging, digital illustration, animation/moving image, self-promotion, and marketing. The candidate should have expert technical knowledge in Adobe Photoshop, InDesign, Illustrator, and be highly proficient in HTML/CSS. WordPress, Adobe Animate, and social media self-promotion skills are a plus. The ideal candidate will also be an effective communicator and team player who can facilitate smooth operations of the program and facilities, develop cohesive strategies for growth and sustainability, develop student pathways into and through Cabrillo College to career and transfer, foster student success and creativity, and potentially provide leadership to the program as Department Chair/Co-Chair in the future.

Examples of Duties

  • Teach assigned classes, which may include evening or off-campus assignments
  • Collaborate in participatory governance committees, processes, and initiatives such as Guided Pathways
  • Maintain timely and accurate records of student enrollment, attendance, and academic progress
  • Provide academic assistance and related services to students during scheduled office hours Cooperate with and participate as may be required in District investigations and/or student grievances matters of alleged unlawful harassment, discrimination, and retaliation
  • Demonstrate sensitivity to and understanding of diverse academic, socioeconomic, cultural, disability, gender identity, sexual orientation, and ethnic backgrounds of community college students, faculty and staff
  • Work with the Dean of CTE and local educational partners to create and update student pathways as they relate to current labor market
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Bitcoin Lightning Network Community Diamond Hands Partners With Open House Group

  • The largest Lightning community in Japan, Diamond Hands, is partnering with one of the largest real estate firms, Open House Group, in Tokyo for a joint-research project.
  • Open House will research leveraging the Bitcoin Lightning Network for real estate transactions in the region.
  • The real estate company will also look to build out infrastructure practices for businesses in the area looking to adopt the Lightning Network.

Open House Group Company Limited, a top real estate firm in the Tokyo Metropolitan Area, is sponsoring Japan’s largest Lightning Network community known as Diamond Hands in a joint-research project, per a press release sent to Bitcoin Magazine.

Open House will sponsor the support and outreach efforts of Diamond Hands as it seeks to further Lightning Network adoption in the region. The Lightning community will join Open House in research and development of both internal projects and community development as it relates to the adoption of Lightning for both individual users and businesses.

Furthermore, Open House seeks to strengthen its understanding of the ecosystem by exploring full-node business operations for firms. This research will include securely storing data on personal devices and cloud databases on full nodes at real estate properties, the leveraging of layer two Bitcoin technology for real estate transactions, and how to route payments on the Lightning Network.

Previously, Diamond Hands made headlines for its partnership with bitcoin-only gaming company ZEBEDEE in which the two organizations, along with Mimesis Capital, joined forces to strengthen Lightning adoption in Asia.

Consequently, Mimesis Capital, being a bitcoin-focused family office, planned to leverage the connections of Diamond Hands to offer business consultation to firms looking to integrate the Lightning Network into their professions. In addition, ZEBEDEE sets its sights on building out infrastructure to allow heightened levels of bitcoin gaming in the region.

“The Diamond Hands community has played an integral role for Lightning adoption for both individuals and enterprises in Japan since last year, but we are looking to push this even further by collaborating with international companies and communities,” Koji Higashi, co-organizer of Diamond Hands had previously stated.

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