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    Fanatics expands its Nike sports merchandise deal to Yomiuri Giants, Japan’s most popular baseball team

    Fanatics is expanding its long-term partnership with Nike to include manufacturing and distribution of merchandise for the Yomiuri Giants, Japan’s most successful and popular baseball team.
    In addition to exclusive merchandising rights, Fanatics will operate e-commerce and physical retail businesses for the Yomiuri Giants and plans to refurbish the retail stores at the Tokyo Dome ahead of the 2023 season.
    Fanatics and Nike struck a deal earlier this year for manufacturing of U.S. college sports apparel, set to begin in 2024.

    A woman browses a merchandise shop in Tokyo Dome ahead of the Japan Central League baseball match between Yomiuri Giants and Hiroshima Carp on October 14, 2020 in Tokyo, Japan.
    Carl Court | Getty Images Sport | Getty Images

    Sports commerce platform Fanatics is expanding a recently signed long-term partnership with Nike to include manufacturing and distribution of merchandise for the Yomiuri Giants, Japan’s most successful and popular baseball team.
    In addition to exclusive merchandising rights, Fanatics will operate e-commerce and physical retail businesses for the Yomiuri Giants and plans to refurbish the retail stores at the Tokyo Dome ahead of the 2023 season. Nike will become the official uniform supplier of the Yomiuri Giants. Fanatics will make on-field uniforms and player performance items, as well as additional Nike-branded fan jerseys and apparel sold both online and at physical stores. Fanatics is also creating autograph and collectible products for fans of the Yomiuri Giants.

    The Yomiuri Giants are the first sports team outside the U.S. to adopt this Nike-Fanatics model for on-field and sports merchandise. Fanatics, a major player in sports merchandising, has exclusive licensing deals with the NFL, NHL, MLB, as well as various colleges and universities. Several of those deals, including the NFL and MLB, also overlap with Nike jersey and apparel deals.
    A partnership between Fanatics and Nike was struck earlier this year for manufacturing of U.S. college sports apparel by Fanatics, set to begin in 2024.
    The three-time CNBC Disruptor 50 company has a private valuation of $27 billion.

    Fanatics has evolved in recent years to include collectibles, sports betting and NFT businesses. The closely held company, founded by Michael Rubin, has also completed several acquisitions. In 2020, it acquired sports merchandise manufacturer WinCraft, and earlier this year it bought trading card company Topps for $500 million. Earlier this year, CNBC reported that Fanatics was in talks to buy sports betting company Tipico, though a deal hasn’t yet been reached.
    Rubin recently divested from stakes in the New Jersey Devils and Philadelphia 76ers due to the growth of business lines with potential conflicts of interest, including betting and licensing deals with individual athletes.

    Fanatics has grown to more than 10,000 employees in 57 countries, serving nearly 100 million sports fans worldwide.

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    Saudi Arabia inflicts seismic World Cup shock on Argentina

    The result ended Argentina’s 36-game unbeaten run, stretching back to defeat against Brazil three years ago but this was the greatest day in Saudi Arabian football history.

    Saleh Al-Shehri of Saudi Arabia celebrates with his team mates after scoring a goal to make it 1-1 during the FIFA World Cup Qatar 2022 Group C match between Argentina and Saudi Arabia at Lusail Stadium on November 22, 2022 in Lusail City, Qatar.
    James Williamson – Ama | Getty Images Sport | Getty Images

    Saudi Arabia produced one of the greatest upsets in World Cup history as Salem Al-Dawsari’s stunning solo effort secured a 2-1 victory over Argentina in Group C at the Lusail Iconic Stadium.
    Time stood still as Al-Dawsari plucked the ball out from the sky and turned inside two Argentina defenders before curling his finish beyond the reach of Aston Villa defender Emiliano Martinez, producing one of the biggest moments of any World Cup finals.

    Lionel Messi had given one of the pre-tournament favourites the lead from the penalty spot after a contentious VAR decision (10) but Saleh Al-Shehri levelled just three minutes into the second period to set up an almighty upset.
    The result ended Argentina’s 36-game unbeaten run, stretching back to defeat against Brazil three years ago but this was the greatest day in Saudi Arabian football history.
    La Albiceleste last lost their opening World Cup group game in 1990 – against Cameroon – but they went on to reach the final where they lost to Germany but that will be of little consolation to the South Americans right now following defeat to the nation ranked 51st in world football.

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    Two companies have luxury trains called the ‘Orient Express.’ Here are the differences

    The “Orient Express” has been called the “king of trains” and the “train of kings.”
    Royalty, writers, actors and spies have ridden the original route between Paris and Istanbul, which started in the late 19th century.

    Author Agatha Christie described the Orient Express as “the train of my dreams.” She set a bestselling murder mystery novel on its carriages, and fictional spy James Bond rode it in the movie “From Russia With Love.”
    Travelers might think of the Orient Express as a single luxurious train, but there have in fact been quite a few over the years, with many routes and owners.
    Soon, people will be able to choose to take a ride on several trains using the Orient Express moniker, by two competing companies, the LVMH-owned luxury travel company Belmond and the French hospitality multinational Accor.
    Both have original carriages which date to the late 1800s. But they differ in how they’re designed, where they travel and how long they’ve been in operation — one for decades and the other set to launch in 2024.

    History behind the ‘Orient Express’

    The original train was conceived by a young Belgian engineer named Georges Nagelmackers, who was inspired by the Pullman sleeper trains he rode during a trip to the United States in 1868.

    Nagelmackers wanted to build something similar — but more luxurious — for upmarket passengers in Europe. In 1883, the “Train Express d’Orient” made its first journey out of the Gare de Strasbourg in Paris (now the Gare de l’Est) to Vienna.

    The Venice Simplon-Orient-Express will launch eight new suites in June 2023.

    A few years later, the train was renamed the Orient Express and began traveling to Istanbul, then known as Constantinople. Travelers flocked to the train’s modern technology and luxurious silver cutlery and silk sheets.
    Soon, Nagelmackers’ firm started to build more upscale trains for other European routes, including one that ran through the then-new Simplon Tunnel, which connects Switzerland to Italy, as well as the “Arlberg-Orient-Express,” operating between Calais, France, and Budapest, Hungary.
    By the 1970s, the original Orient Express trains had made their last journeys, and the carriages fell into disrepair.
    But in the 1980s, two businessmen undertook separate endeavors to revive them.

    James Sherwood, an American, spent a reported $31 million acquiring and restoring enough carriages to form the “Venice Simplon-Orient-Express,” now owned by Belmond. (To add to the confusion, Sherwood also added hotels to his travel group, calling them Orient-Express Hotels. He renamed the company to Belmond in 2014.)
    Swiss tour operator Albert Glatt began a service between Zurich and Istanbul, known as the “Nostalgie-Istanbul-Orient-Express,” which is now owned by Accor.

    The ‘Venice Simplon-Orient-Express’

    The “Venice Simplon-Orient-Express” has been operating since 1982. The train is made of original restored carriages that Gary Franklin, vice president of Belmond’s trains and cruises, called “works of art.”
    “This train comes imbued with so much history,” he said. “The carriages are beautiful.”
    As for Accor’s plans to launch a train also called the Orient Express,” Franklin said, “We’re the ones that have been doing it for 40 years, and I think we take it as a huge compliment that people are … seeing how well we’re doing with that.”

    A one-night trip on the “Venice Simplon-Orient-Express” starts from £2,920 ($3,292) per person.

    Belmond has a one-off licensing deal to use the Orient Express name on its Venice Simplon train, Franklin confirmed, while Accor has the rights to the brand as a whole.
    The “Venice Simplon-Orient-Express” will operate winter journeys for the first time this December, visiting Paris, Venice, Vienna and Florence, encouraging guests to visit the Christmas markets in those cities.
    And next June, new suites are opening on the train, which come with private bathrooms, a steward, kimonos and slippers.
    A one-night journey will cost from £5,500 ($6,135) per person in the new suites, which are one step below the train’s most luxurious category — the Grand Suites — which come with private dining, heated floors and “free-flowing” champagne, according to the website.

    A suite on the “Venice Simplon-Orient-Express.”

    Tickets for around half of the new suites have already been bought, and Grand Suites (about $9,600 per night) are almost sold out, Franklin said.

    The ‘Nostalgie-Istanbul-Orient-Express’

    A few years after Glatt put his train back on the rails, it was again left derelict.
    Fast forward to 2015 and French rail company SNCF — which then owned the rights to the Orient Express name — commissioned researcher Arthur Mettetal to find the train.
    “We had a beautiful brand, but no cars,” Guillaume de Saint Lager, now vice president of Orient Express at Accor, told CNBC. “We knew there was this complete train, but we didn’t know where it was.”
    Using Google Maps and Google 3D, Mettetal located 17 of the original cars on the Poland-Belarus border.

    Carriages from the “Nostalgie-Istanbul-Orient-Express,” found derelict on the Poland-Belarus border, are being restored by the French hotel group Accor.
    Maxime d’Angeac | Martin Darzacq | Accor

    The bar car on the “Nostalgie-Istanbul-Orient-Express” will feature a bar with a glass counter, a tribute to French designer Rene Lalique.
    Maxime d’Angeac | Martin Darzacq | Accor

    Much of the interior — including original marquetry, or decorated wood — was intact, said de Saint Lager.
    A detailed restoration is now underway, with architect Maxime d’Angeac hired to design the interiors. His brief was to “have a kind of fantasy of what could be Art Deco,” d’Angeac told CNBC by phone. He said he had a significant collection of the train’s original drawings and models.
    Original glass Lalique lamps, in the shape of a flower, will light the train’s corridors, while other original elements from the rediscovered train will also be incorporated, such as suitcase racks and door handles.

    A corridor on the “Nostalgie-Istanbul-Orient-Express” features original glass Lalique flower lamps.
    Maxime d’Angeac | Martin Darzacq | Accor

    The bar car will feature call buttons for champagne and service, while the dining car will have a mirrored ceiling as well as a glass wall to the kitchen, so guests can see the chef.
    Sleeping suites will feature leather walls, embroidered headboards and en suite marble bathrooms. De Saint Lager described it as a “cruise train,” where guests can alight at lesser-known places (routes and prices are yet to be announced).
    Passengers will soon be able to stay at “Orient Express” hotels, too, the first of which will launch in Rome in 2024, according to Accor’s website.

    The Orient Express ‘La Dolce Vita’

    Accor has more plans to use the Orient Express name. It’s also developing six “La Dolce Vita” trains that will run through 14 regions in Italy as well as neighboring countries, with aims to have 10 Orient Express hotels by 2030.

    A rendering of the “Orient Express La Dolce Vita,” which will connect Rome to cities like Paris, Istanbul and Split.
    Dimorestudio | Accor

    These trains will pay tribute to an era different from the Venice Simplon or the Nostalgie-Istanbul trains.
    “La Dolce Vita” — which translates as “the sweet life” — refers to Federico Fellini’s 1960 movie, as well as to a sense of Italian glamour and pleasure. The trains are designed to embody “the Italian art of living and all its beautiful traditions,” according to an online post by interiors company Dimorestudio, which is working on the project.
    The trains will have 18 suites, 12 deluxe cabins and an “honour suite.” Most will leave from Rome’s Termini station, where passengers will have access to a lounge before departure, and will travel around 16,000 kilometers (about 10,000 miles) of railway lines, with stops at lesser-known Italian destinations.

    A rendering of a bedroom suite on the “Orient Express La Dolce Vita,” showing the train’s 1960s-style decor.
    Dimorestudio | Accor

    Along with the Orient Express La Minerva Hotel in Rome, Accor will also open the Orient Express Venice Hotel in 2024 in a restored palace. In addition, Accor has plans to launch an Orient Express hotel in Riyadh, Saudi Arabia.
    Those trains are also set to be launched in 2024, according to a company representative.
    — CNBC’s Monica Pitrelli contributed to this report. More

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    Iger announces first big moves in new tenure as Disney CEO: Restructuring and departure of Chapek right hand Kareem Daniel

    Kareem Daniel, Disney’s head of media and entertainment — and right hand to now-departed CEO Bob Chapek — is out at the company.
    CEO Bob Iger announced Daniel’s departure in a memo to employees, along with a “new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs.”
    The decision marks the swift undoing of one of Chapek’s primary actions during his nearly three-year tenure as CEO.

    Bob Iger attends the World Premiere of Walt Disney Studios Motion Pictures ‘Avengers: Endgame’ at Los Angeles Convention Center on April 22, 2019.
    Jeff Kravitz | FilmMagic, Inc | Getty Images

    Bob Iger, less than 24 hours after returning to the helm of Disney, told employees Monday that the company would be undergoing a restructuring in coming weeks.
    One of the first steps, Iger announced, would be the departure of Kareem Daniel, the company’s head of media and entertainment, and right hand to now-departed CEO Bob Chapek.

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    Iger announced Daniel’s departure in a memo to employees of the division, along with a “new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs.”
    “This will necessitate a reorganization of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company,” Iger said in the memo, which was obtained by CNBC.

    Iger said top Disney lieutenants, including Dana Walden, head of general entertainment, Alan Bergman, leader of Disney content studios, ESPN’s James Pitaro and CFO Christine McCarthy would work together on Disney’s new structure “that puts more decision-making back in the hands of our creative teams and rationalizes costs.”
    The decision marks the swift undoing of one of Chapek’s primary actions during his nearly three-year tenure as CEO. Chapek reorganized the company to establish the DMED division and consolidate budgetary power for Disney’s content and distribution divisions under Daniel. 
    “Our goal is to have the new structure in place in the coming months. Without question, elements of DMED will remain, but I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses,” Iger said. “This is a moment of great change and opportunity for our company as we begin our second century.”

    Kareem Daniel
    Source: Business Wire

    Daniel has close connections with Chapek, who hired Daniel as an intern when he was working on getting his MBA at Stanford.
    The two had worked closely together when Chapek was head of the parks, experiences and consumer products group, and Daniel was head of the Imagineering program, Disney’s theme park designers.
    Daniel had worked across several of Disney’s divisions during his tenure. He was vice president of distribution strategy at Walt Disney Studios when Disney closed its acquisition to buy Marvel Studios for around $4 billion in 2009. He was also part of the team that purchased Lucasfilm in 2012 for $4.05 billion.
    Marvel and Star Wars would become key pieces to Disney’s strategy, especially in streaming, in recent years.
    Daniel, who was at Disney for more than a decade, rose to his latest perch as head of media and entertainment, when Chapek reorganized Disney in 2020 and the now-former CEO quickly surrounded himself with parks staff and accelerated the company’s push into streaming.
    In his latest role, Daniel oversaw all of Disney’s streaming services, namely Disney+, as well as domestic television networks and studios.
    Shares of Disney rose more than 6% Monday, the day after Disney announced the executive shift.
    Read Iger’s memo:

    Dear DMED Employees,
    As we embark on the transformative work that I mentioned to you in my email last night, I want to begin by offering my sincere appreciation and gratitude to each and every one of you.
    Over the coming weeks, we will begin implementing organizational and operating changes within the company. It is my intention to restructure things in a way that honors and respects creativity as the heart and soul of who we are. As you know, this is a time of enormous change and challenges in our industry, and our work will also focus on creating a more efficient and cost-effective structure.
    I’ve asked Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to work together on the design of a new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs, and this will necessitate a reorganization of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company, and I hope you will all join me in thanking him for his many years of service to Disney. 
    Our goal is to have the new structure in place in the coming months. Without question, elements of DMED will remain, but I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses. 
    This is a moment of great change and opportunity for our company as we begin our second century, and I am so proud to be leading this team again. I can’t say it enough: I’m incredibly grateful for the tremendous work you do each day, and for your commitment to maintaining the level of excellence Disney has always been known for.
    I know change can be unsettling, but it is also necessary and even energizing, and so I ask for your patience as we develop a roadmap for this restructuring. More information will be shared over the coming weeks. Until a new structure is put in place, we will continue to operate under our existing structure. In the meantime, I hope you all have a wonderful Thanksgiving holiday, and thank you again for all you do.
    Bob

    Correction: This story has been corrected to reflect that Bob Chapek was CEO of Disney for nearly three years. An earlier version misstated his tenure.

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    Cramer’s lightning round: You ought to pass on Medical Properties Trust

    Monday – Friday, 6:00 – 7:00 PM ET

    It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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    Howmet Aerospace Inc: “I think aerospace exposure is incredibly important, and Howmet will give it to you.”

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    UiPath Inc: “I actually believe in the company, but that company is losing money. … I am not going to compromise and suggest a company that is losing money.”

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    Coupa Software: “They’ve been losing too much money, and they have to do that pivot to start making money. And when they do, the stock’s going to come back.”

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    DraftKings says no evidence systems were breached following report of a hack

    DraftKings said Monday there is no evidence the online betting platform’s systems were breached following a report that some users were hacked.
    The company said it has identified less than $300,000 of customer funds that were affected by unusual activity.
    FanDuel told CNBC on Monday it has seen a recent uptick in activity of hackers trying to breach the platform.

    Omar Marques | LightRocket | Getty Images

    DraftKings said Monday there is no evidence the online betting platform’s systems were breached following a report that some users were hacked.
    An unknown number of users discovered unusual activity associated with their DraftKings account that led to withdrawals from their bank accounts, according to a report by The Action Network and social media posts. Several users described being locked out of their accounts before noticing the drawdowns.

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    “DraftKings is aware that some customers are experiencing irregular activity with their accounts. We currently believe that the login information of these customers was compromised on other websites and then used to access their DraftKings accounts where they used the same login information,” Paul Liberman, DraftKings’ co-founder and president for global technology and product, said in a statement.
    The company said it has identified less than $300,000 of customer funds that were affected by the unusual activity and that it intends to “make whole any customer that was impacted.”
    Shares of DraftKings fell 5% on Monday.
    The incident comes at a time when users are increasingly skeptical of online financial transactions following the recent collapse of crypto platform FTX. DraftKings said it strongly encourages users to choose unique passwords.
    DraftKings’ competitor FanDuel told CNBC on Monday it has seen a recent uptick in activity of hackers trying to breach the platform. The attempts have so far been unsuccessful, the company said.
    “We remind our customers about the importance of good cybersecurity hygiene,” FanDuel said in a statement. “FanDuel encourages customers to please stay vigilant and immediately report any suspicious activity if they suspect their account has been compromised.”

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    Charts suggest the S&P 500 will rally in December, Jim Cramer says

    Monday – Friday, 6:00 – 7:00 PM ET

    CNBC’s Jim Cramer said Monday that stocks in the benchmark S&P 500 will likely rally next month.
    “The charts, as interpreted by the legendary Larry Williams, suggest that the Santa Claus rally is coming to town next month,” he said.

    CNBC’s Jim Cramer said Monday that stocks in the benchmark S&P 500 will likely rally next month.
    “The charts, as interpreted by the legendary Larry Williams, suggest that the Santa Claus rally is coming to town next month and you’ve got to get ready for it, or else you may be left behind,” he said, referring to the market phenomenon in which stocks gain near the end of the year.

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    Cramer pointed out that Williams said at the end of October — which marked a major month for stocks this year — that stocks could rally through the end of 2022. “Since then we’ve had a very nice run, so as we get closer to the holidays, we’ve got to ask, can it continue?” Cramer said.
    He first examined the daily chart of the S&P 500 to explain Williams’ analysis.

    Arrows pointing outwards

    The blue line represents Williams’ model of the index’s seasonal pattern, or in other words, the way it historically has traded at any given point in the year. The pattern tends to be bullish for stocks through the end of the year, meaning that the market’s recent strength could be far from over, according to Cramer.
    “Williams points out there tends to be two sweet spots for the S&P at this time of year: The first runs through late November, the second runs through mid-to-late December,” he said.
    Cramer also analyzed a chart of the S&P 500 that shows Williams’ short-term cycle forecast in red.

    Arrows pointing outwards

    If this cycle plays out again, as it has in recent years, then stocks might fall through the end of November. However, there’s a chance that the S&P 500 could soar in early December, according to Cramer.
    “Between the seasonal pattern and the short-term cycle, and also the extremely positive long-term cycle that we covered a few weeks ago, he’s seeing a lot of green lights to start buying,” Cramer said.
    For more analysis, watch Cramer’s full explanation below.

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    Jim Cramer says he’s bullish on Disney after Iger’s return as CEO

    Monday – Friday, 6:00 – 7:00 PM ET

    CNBC’s Jim Cramer said Monday that he’s sticking by Disney after the company welcomed back Bob Iger as chief executive.
    Cramer called for Bob Chapek’s firing earlier this month after the company reported wide misses on fourth-quarter earnings and revenue.

    CNBC’s Jim Cramer said Monday that he’s sticking by Disney after the company welcomed Bob Iger back to the chief executive role.
    “Disney’s the defining story of the day. This is a good example of how you can stick with an iconic company …  and make money when they bring in a better leader. And that’s exactly what I see happening as Iger takes the helm,” he said.

    The company on Sunday announced Iger’s return as chief executive, effective immediately. The move reportedly came after senior leaders within the company complained that former CEO Bob Chapek was unfit for the job. 
    Shares of Disney closed up 6.3% on Monday.
    Cramer called for Chapek’s firing earlier this month after the company reported wide misses on fourth-quarter earnings and revenue, driven partly by growing losses in its direct-to-consumer segment. He also criticized the former Disney head for not taking responsibility for his mistakes on the company’s post-earnings conference call. 
    “It was disgraceful, frankly,” he said.
    And while he’s pleased with Iger’s return, Cramer reminded investors that there’s still work to do for the company to cut costs and prioritize profitability, particularly as it relates to the company’s streaming business.

    “Iger set lofty goals for profitability for Disney+. It’s time to reset those goals to more realistic levels,” he said, adding: “Iger needs to say that profitability is what really matters here, not subscriber growth.”
    Disclaimer: Cramer’s Charitable Trust owns shares of Disney.

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