Katie Greifeld

The blush boom is real. Not only is the category a viral mainstay and a steady driver of makeup growth since 2023, per Circana, but it also raked in $58.9 million in revenue on Amazon during the last 12 months, growing at a rate of 39 percent year-over-year. This outpaces not just makeup’s growth of 25 percent during the same period, but also beauty and personal care’s overall sales growth of 30 percent on the platform. Here, a dive into Amazon's burgeoning blush business for WWD: https://lnkd.in/epuuW9y9

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In today’s WSJ China, I write about the parallels between Beijing’s recent economic policy U-turn and the U-turn on zero-Covid. Both point to how Xi’s centralization of power has delayed effective policy response. https://lnkd.in/etQ6w5pb Also we highlight the story by Liyan Qi on China’s most famous red guard. Hope you enjoy reading it! H/T Clarence Leong

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Congestion pricing was supposed to start today in New York City. It didn't after Gov. Kathy Hochul earlier this month announced an indefinite pause. My latest article in The Wall Street Journal traces the rise and pause of congestion pricing — a tale that involves 17 years and around $700 million. The abrupt reversal, which some attribute to Hochul’s reluctance to impose a new fee in an election year, leaves metro New York grappling with a historic missed opportunity and fiscal mess. There is no relief in sight for the city’s traffic congestion, which is the worst in the world, according to data published last week. The epic collapse in New York shows how a fear of dramatic change can give the status quo stubborn power over those trying to solve some of America’s most intractable challenges. That leaves policymakers nibbling at the edges of deeply rooted problems, even after investing huge sums of money and political capital. Blown up in a New York minute were plans for around $15 billion of planned improvements to the city’s ailing mass-transit system, the largest transportation network in North America. The reversal cast aside around $700 million in meticulous prep work, including a $555-million contract to install tolling cameras—which are already up and ready to go—and $33 million for a customer-service center with 100 employees who have already been brought on, officials said. Planners invested thousands of hours, including going to London and Stockholm to research their congestion-pricing programs, according to people familiar with the travel. What was supposed to be a transformative moment when New York led the way and boldly tackled traffic congestion, air pollution and transit funding, has instead turned into a surprising loss for a broad coalition that includes major employers, real-estate developers and subway riders. Surprised by the reversal were Hochul’s own lieutenants, including Janno Lieber, a fierce champion of congestion pricing and the chief executive of the Metropolitan Transportation Authority. The MTA—which carries around 5.5 million passengers each day in the New York metro area—now faces a $16.5 billion-financial hole from the loss of money from congestion pricing and federal matching funds. Just days after Hochul’s announcement, a beleaguered Lieber joined a conference call with advocates in which he said he was equally shocked and remained committed to the program, three people familiar with the exchange said. “This is devastating,” he said, according to a person on the call. Here's the latest from me and Joseph De Avila —>

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Deep dive: Courts started shaping the US presidential race long before Nov. 5. An extraordinary onslaught of cases filed over the past two years have questioned fundamental principles of who can vote, how ballots are cast, which votes count, and how the winner is decided. And they preview issues that could fuel the expected wave of legal action after polls close. https://lnkd.in/gccMDYTm

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My full-length post-mortem analysis of the Question 4 campaign is still in the works, but for the time being here's my 3-tweet takeaway after a few days of reflection: The Question 4 campaign here in Massachusetts, the power players behind it, and the total failure that was Tuesday night’s election are a fascinating microcosm of the foundational ineptitude of the Democratic establishment at large. Case in point: Dewey Square Group (born in 1993) is the faux-progressive brainchild of the Clintonite/neoliberal elite… DSG is a “grass tops” consulting firm: designed to co-opt and repackage populist ideologies into watered down, corporate-friendly Uniparty drivel. Out of touch, glaringly and embarrassingly inept — and yet somehow still clinging to power due to the influence of their largely nepotistic networks and a consistently sharp-elbowed approach to dealing with outsider input. Sound familiar? PS - This is intended as a critique of the political machinations at work, not an attack on or condemnation of the character of any individuals involved.

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Despite official support for open capital flows, foreign direct investment into the United States has always been controversial – particularly in periods when Americans feel their economic and technological position is under challenge. The national security objection to Nippon Steel’s acquisition bid for US Steel is particularly weak, and reflects the fact that “national security” has become an all-purpose argument, often divorced from what actually enhances or reduces security. Today’s real national security challenge is new technology acquisition; preventing technology leakage is not enough. Inward foreign direct investment is a powerful tool for acquiring and diffusing technology. https://lnkd.in/dKjUZfjs

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After many years in the biz, I can attest everything here is true. Journalism is much more than a career. It's a noble profession and a contact sport that isn't for the faint of heart. And remember that news doesn't happen in newsrooms so get out of the office as much as possible! #journalism #reporters Southern California News Group https://lnkd.in/gzcY4tu5

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More protectionism? Bifurcated trade blocks? My first deep dive into the future of US-China trade relations. Check it out

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NVIDIA’s latest quarterly results are out and Citywire Elite Companies has caught up with analysts at several leading wealth management firms to see what they think the numbers say about key aspects of the long-term investment case: 💪 Competitive lead 🎢 Demand/AI spending cycle 🛠 Supply challenges We’ve also used Citywire’s unique data on the holdings of the world’s best portfolio managers to measure smart-money enthusiasm for this AI wonder stock. With thanks to Ben Barringer CFA, Gregor Davidson, Quilter Cheviot, James Ford, CFA, Lucy Cotter, Charles Stanley ,Daniel Smith, CFA, Canaccord Genuity Wealth Management (UK, Channel Islands and Isle of Man), Lucy Clark

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In which Points of Return takes on the returns from Ozempic, and much more on R-Star:

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One or two things I’ve learned from following the U.S. election campaign period. The U.S. elections, from the campaign period and debates through to Election Day, are well-organized and widely publicized. Both the Democratic and Republican parties raise millions of dollars to conduct their campaigns transparently, without resorting to misusing public funds, which is a problem in African re-election campaigns. It’s an aspect I’ve always wished African nations would emulate. Many prominent African opposition figures including #Ousainou Darboe were invited to the #Democratic National Convention (DNC), and we hope they gained valuable insights that they can apply in future presidential campaigns. In The Gambia, we’ve seen the #Commission On Political Debates making efforts to enhance the quality of presidential debates. However, it’s concerning that some candidates have declined invitations to participate including #President Adama Barrow missing the opportunity to present their policies and manifestos directly to voters. We can and must do better.

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My column today

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Oof. This chart really tells the story of the collapse of online news distribution over the past two years. From this story: https://lnkd.in/gEkAAhQ3

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My book review of "Challenger," which comes out this week and is a definitive look at the Shuttle disaster and the missteps that led to it. https://lnkd.in/gbgNwm3X

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For this podcast, the Confident Retirement, there's a twist: I was the one interviewed, not the one asking the questions. (I like it better the other way - but that was fun - thanks for inviting me on, Kristopher Flammang CRPC®AIF®BFA®) Oh - and I'm not retiring :) Some of the things we talked about: * My early journalism career change to being a juvenile probation office for three years; • Why and how the Business Observer has made a transtions to #digitalfirst — and why we keep the focus on that; and • The lessons I've learned from interviewing hundreds of entrepreneurs ands business owners Take a listen!

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